McDormand, Inc., reported a $2,800 unfavorable price variance for variable overhead and a $28,000 unfavorable price variance for fixed overhead. The flexible budget had $1,045,200 variable overhead based on 34,840 direct labor-hours; only 34,040 hours were worked. Total actual overhead was $1,814,000. The number of estimated hours for computing the fixed overhead application rate totaled 38,100 hours. Required a. Compute the following variable overhead variances (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 b. Compute the following fixed overhead variances. (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