Exercise 9-6 Holtz Company has developed the following standard overhead costs per unit based on a capacity of 360,000 direct labour-hours. Hours Rate Total Variable overhead costs: 2 $ 3 $ 6 Fixed overhead costs: 2 $ 5 $ 10 $ 16 During April, 170,000 units were scheduled for production (which is the denominator level of activity used to calculate the overhead rates per hour); however, only 160,000 units were actually produced. The following information relates to April's production: i) Actual direct labour cost incurred: Actual hours of work: ii) Actual overhead costs incurred: $ 1,288,000 330,000 Variable Fixed Total $ 1,036,000 $ 1,720,000 $ 2,756,000 All inventories are carried at standard cost. Required - Calculate the following variances: Variable overhead spending Variable overhead efficiency Fixed overhead budget Fixed overhead volume Reconcile the four variances to the over/under applied overhead for the month of April