Fixed overhead rate is based on practical capacity of 180,000 units, For the year 2022, the company has produced 140,000 units with the following actual data : - Direct Material purchased 30,000gr at total cost of $195,000 - Ending Inventory of Direct Materials was 5,000gr - Direct Labor used was 3,000 hours for $84,900 - Variable Overhead costing $61,500 - Fixed Overhead amounting $55,000 Instructions 1. Calculate material price and usage variances (assuming no beginning inventory of Direct Materials) 2. Calculate labor rate and efficiency variances 3. Calculate variable overhead spending and efficiency variances 4. Calculate fixed overhead spending and volume variances ("Note : State whether the variance is favorable or unfavorable)