Logistics Solutions provides order fulfiliment services for dot com merchants. The company majntains warehouses that stock items carned by its dotcom clients. When a client recerves an order from a customer, the order is forwarded to Logistics Solutions, which pulls the item from storage, pocks it and ships it to the customet. The company uses a predetermined variable overhead rate based on direct labor-hours In the most recent month, 120,000 iaems were shipped to customers using 2,300 direct labor-hours. The compary thcurred a total of $7,360 in varlable overthead costs According to the compary's standads, 0.02 direct labor-hours are required to fulfil an order for one item and the variable overhead rate is $3.25 per direct labor-hour Required: 1 What is the standard labor hours allowod (SH) to ship 120,000 items to customers? 2. What is the standard variable overheod cost ollowed (SH x SR) to ship 120,000 items to customers? 3. What is the vatiable overheod spending voriance? 4. What is the voriable overheod rate variance and the variable overhead efficiency wariance? (For requirements 3 and 4 , indicate the effect of each variance by selecting "F" for fovorable, "U" for unfavorable, and "None" for no effect (i.e., zero voriance). Input all amounts as positive volues. Do not round intermediate calculations.)