McDormand, Inc., reported a $2,300 unfavorable price variance for variable overhead and a $23,000 unfavorable price variance for fixed overhead. The flexible budget had $1,037,700 variable overhead based on 34,590 direct labor-hours; only 33,990 hours were worked. Total actual overhead was $1,788,400. The number of estimated hours for computing the fixed overhead application rate totaled 35,400 hours. Required: a. Prepare a variable overhead analysis. b. Prepare a fixed overhead analysis. Prepare a variable overhead analysis. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Price variance Efficiency variance Variable overhead cost variance Prepare a fixed overhead analysis. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Price variance Production volume variance Fixed overhead cost variance