Dvent budgets 18,000 machine hours for the production of computer chips in Aug 2015. The budgeted variable overhead rate is $6 per machine-hour. At the end of August there is a $375 F rate variance for variable overhead and a $1575 U rate variance for fixed overhead. For the computer chips produced , 14850 machine hrs are budgeted and 15,000 are actually used. Total actual overhead costs are $120,000

1. Calculate efficiency and flexible-budget variances for Dvent's variable overhead in August. Will variable overhead be overallocated or underallocated? By how much?
2. Calculate production-volume and flexible-budget variances for Dvent'd fixed overhead in August. Will fixed overhead be overallocated or underallocated? By how much?