Exercise 11-32 Overhead Variances (LO 11-5) Montoursville Control Company, which manufactures electrical switches, uses a standard-costing system. The standard production overhead costs per switch are based on direct-labor hours and are as follows: "Brsed on capacity of 303,500 direct-labor hours per month. The following information is available for the month of October: - Variable overhead costs were $4,380,000 - Fixed overhead costs were $6,675,000. - 57700 switches were produced, although 60,700 switches were scheduled to be produced. - 282,000 direct-labor hours were worked at a total cost of $4,525,000. Required: Compute the variable-overhead spending and efficiency variances and the fixed-overhead budget and volume variances for October. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect (lie., zero variance).)