Hastings Company bases its variable overhead performance report on the actual direct labour-hours of the period. Data concerning the most recent yeat, which ended on December 31 , are as follows: Requirect Prepare a varlable overhead performance report. Compute both variable overhead spending and efficiency variances. (Indicate the effect of each voriance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (fi.e., zero variance).) Requirect, Prepare a varlable overhead perfosmance report. Compute both varlable overhead spending and efficiency variances. findicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (l.e., zero variance).)