Montoursville Control Company, which manufactures electrical switches, uses a standard-costing system The standard production overhead costs per switch are based on direct-labor hours and are as follows: Variable overhead ( 5 direct-tabor hours a$8.00 per hour) Fixed overhead (5direct-laborhoursa$12.00perhour) $40 Total overhead -Based on capachy of 300,000 direct tabor hours per manth. The following information is available for the month of October. - Variable-overhead costs were $2,340,000. - Fixed-overhead costs were $3,750,000. - 56,000 switches were produced, although 60,000 switches were scheduled to be produced. - 275,000 direct-labor hours were worked at a total cost of $2,550,000. Required: Compute the variable-overhead spending and efficiency variances and the fixcd-overhead budget and volume variances for October. Indicate whether a variance is favorable or unfivorable where appropriate. ICM, adapted)