Exercise 16-38 (Algo) Variable Cost Variances (LO 16-5) The following data reflect the current month's activity for Vickers Corporation Actual total direct labor Actual hours worked Standard labor-hours allowed for actual output (flexible budget) Direct labor prace variance actual variable Overhead Standard variable overhead rate per standard direct labor-hour $681,820 36,500 35,200 $ 11,680 F $162,950 $ 4.50 Variable overhead is applied based on standard direct labor hours allowed. Required: Compute the labor and variable overhead price and efficiency variances (Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Direct labor Price vanance Efficiency wanance Vanable overhead Poce vanance Efficiency vanance