Mendig Equity Company offers financial services to its clients. Recently, Mendig has experienced rapid growth and has increased both its client base and the variety of services it offers. The company is becoming concerned about its rising costs, however, particularly related to technology overhead. (Click the icon to view the cost driver findings.) The technology budget for Mendig and its actual results for the first quarter of 2020 are given below: (Click the icon to view the first quarter budget information.) (Click the icon to view the first quarter actual results.) Read the Requirement 1. Calculate the variable overhead spending and efficiency variances, and indicate whether each is favorable (F) or unfavorable (U). Begin by computing the following amounts for the variable overhead. Mendig Equity Company offers financial services to its clients. Recently, Mendig has experienced rapid growth and has increased both its client base and the variety of services it offers. The company is becoming concerned about its rising costs, however, particularly related to technology overhead. (Click the icon to view the cost driver findings.) The technology budget for Mendig and its actual results for the first quarter of 2020 are given below: (Click the icon to view the first quarter budget information.) (Click the icon to view the first quarter actual results.) Read the Requirement 1. Calculate the variable overhead spending and efficiency variances, and indicate whether each is favorable (F) or unfavorable (U). Begin by computing the following amounts for the variable overhead