Exercise 9-6 (Algo) Variable Overhead Variances [LO9-6] Logistics Solutions provides order fulfilment services for dot com metchants. The company maintains watehouses that stock items carried by its dot com clients. When a client recelves an order from a customer, the order is forwarded to Logistics Solutions, which pults the ifem from storage. packs it, and ships it to the customer. The compary uses a predetermined variable overhead rate based on ditect hatorthours. In the most recent month, 180,000 items were shipped to customers using 7,700 direct hbor-hours The compary incurred a total of $26,180 in variable overhead costs: According to the compony's standards. 003 direct labor-hours are required to fulfill an order for one item and the varlable overhead rate is $345 per direct labor-bout Required: 1. What is the standard labor hours allowed (SH) to ship 180,000 items to customers? 2 What is the standard varlable overhead cost ollowed (SH SR) to ship 180.000 items to customers? 3. What is the variable overhead speriding variance? 4. What is the variable overhead rate variance and the variable overhead efficiency vartance? (For requirements 3 and 4 , indicate the effect of each variance by selecting "F" for fovorable. "U" for unfavorable, and "None" for no effect (b.e, zero variance). Input all amounts as positive values. Do not round intermediate calculations.)