Foxwood corporation uses a standard cost system for its production process and applies overhead based on direct labor hours. The following information is available for January when they produced 4, 500 units: standard: DLH per unit 2.50 hours variable overhead per DLH dollar 1.75 fixed overhead per DLH dollar 3.10 budgeted variable overhead dollar 21, 875 fixed budgeted overhead dollar 38, 750 budgeted 12, 500 hours actual direct labor hours 10,000 DLH variable overhead costs dollar 24, 250 fixed overhead cost dollar 38,000 total variable the four-variance approach/calculate the variable overhead spending variance variable overhead efficiency variance fixed overhead spending variance fixed overhead efficiency variance