Exercise 16-38 (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.)