Exercise T4-7 The following information is available for Talley Company: Production: Budgeted Actual 75,400 units 76,700 units Standard costs: Direct labor Variable overhead Fixed overhead 10 DLH per unit @ $14 per hour 10 DLH per unit @ $9 per hour 10 DLH per unit @ $10 per hour Actual costs: Direct labor Variable overhead Fixed overhead 763,400 DLH $6,863,000 $7,548,100 $14.50 per hour (a) Calculate the variable overhead spending and efficiency variances Variable overhead spending variance Variable overhead efficiency variance (b) Calculate total budgeted fixed overhead cost. Budgeted fixed overhead