Oerstman, Inc., uses a standard costing system and develops its overhead rates from the current annual budget. The budget is based on an expected annual output of $121,000$ units

requiring $484,000$ direct labor hours. $($Practical capacity is $504,000$ hours.$)$ Annual budgeted overhead costs total $$808,280,$ of which $$571,120$ is fixed overhead. A total of $119,500$

units using $482,000$ direct labor hours were produced during the year. Actual variable overhead costs for the year were $$260,900,$ and actual fixed overhead costs were $$555,450.$

Required:

Compute the fixed overhead spending and volume variances.

Compute the variable overhead spending and efficiency variances. Do not round intermediate calculations