ework Sedona Company set the following standard costs for one unit of its product for 2017 Direct material (20 Ibs. $2.50 per Ib. Direet labor (10 hrs. $22.00 per hr.) Factory variable overhead (10 hra. 8 $4.00 per hr. Factory rixed overhead (10 hrs. $1.60 per hr.) Standard cost s 50.00 220.00 10.00 16.00 9326.00 The $5 60 ($4.00 $160) total overhead rate per direct labor hour is based on an expected operating level equal to 7 of the factory's capacity of 50,000 units per month. The following monthly flexible budget information is also available. 801 rlexible Badget Budgeted output (uniS Budgeted labor (standard hours) Budgeted overhead (dollars) 70a 35, 000 37,500 375,000 0, 000 100, 000 350,000 1,400,000 $1,500, 000 1,600,000 600,000600,000 2,000,000 $2,100, 000 2,200, 000 Fixed overhead 600,00060 During the current month, the company operated at 70% of capacity, employees worked 340,000 hours, and the followi actual overhead costs were incurred Variable overhead coats Fixed overhesd coats 1,375,000 Total overhead costs 2,003, 600 AH Actual Hours SH- Standard Hours AVR Actual Variable Rate SVR Standard Variable Rate SFR Standard Fixed Rate 1. Compute the variable overhead spending and efficiency variances Actual Variable OH Cost Flexible Budget Standard Cost (VOHl a AVR AH SVR SH SVR