Layt Clock Company has developed the following flexible budget for its overhead costs. The standard hours allowed per unit is 1.2 hours. Manufacturing overhead at Layt is applied to production on the basis of standard machine-hours:

	Budget Information
	Machine Hours	26,400
	Clocks produced...................	22,000
	Variable overhead cost per machine hour (standard) ...	$5.90
	Fixed overhead cost per unit per machine hours (standard)	$6.48
	Total Fixed overhead cost.....	$171,072

The actual results for the year were as follows:

	Number of clocks produced...........	21,500
	Machine-hours incurred.................	24,940
	Variable overhead cost...................	$145,899
	Fixed overhead cost.......................	$170,540

Required:

Compute Variable Overhead Rate Variance.

Compute Variable Overhead Efficiency Variance.

Compute Fixed Overhead Budget Variance.

Compute Fixed Overhead Volume Variance.