Exercise 16-50 (Algo) Overhead Variances (LO 16-5, 6) Brice Corporation shows the following overhead information for the current period $1,053,480 ($277,780 fixed and 5775,700 variable) $ 284,200 (23, 100 direct labor-hours budgeted Actual overhead incurred Budgeted fixed overhead Standard variable overhead rate per direct labor- hour Standard hours allowed for actual production Actual labor-hours used $ 29.55 26,900 hours 27,800 hours Required: What are the variable overhead price and efficiency variances and the foed overhead price variance? (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.) Variable overhead Price variance Efficiency variance Fixed overhead Price variance