Exercise 1638 (Algo) Variable Cost Variances (LO 16-5) The following data reflect the current month's activity for Vickers Corporation. 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.)