Exerclse 10-3 (Algo) Varlable Overhead Varlances [LO10-3] Logistcs Solutions provides order fulfilment services for dotcom merchants. The company maintains warehouses that stock items carmed by its dotcom clients. When a client recelves an order from a customer, the order is forwarded to Logistics Solutions, Which pullis the item from storage. packs it, and ships it to the customer. The company uses a predetermined variable overhead rate based on directlaborthours. In the most recent month, 110,000 tems were shipped to customers using 3,500 direct labor-hours. The company incurred a total of $9.450 in variable overhead costs. According to the company's standards, 0.03 direct labor-hours are required to fulfill an order for one ttem and the varlable overhead rate is $275 per direct labor -hour. Required: 2. What is the standard laborhours allowed (SH) to ship n0,000 rems to customers? 2. What is the standard varrable overhead cost allowed (SH SR) to ship 110.000 items to customers? 3. What is the variable overnead spending variance? 4. What is the variable overhead rate varlance and the variable overhead efficlency variance? (For requirements 3 and 4 , Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e. zero varlance). Input all amounts as postive values. Do no round intermedlate calculations.)