K Company's budgeted and actual overhead costs for the year were:

Budget Actual

Variable $540,000 $524,000

Fixed 240,000 230,000

Total $780,000 $754,000

The budget was based on productive capacity of 100,000 machine hours. 94,000 standard hours were allowed for the actual units produced, but only 93,000 actual hours were used.

Required: Perform a 2-way, 3-way, and 4-way overhead variance analysis