Ole Company manufactures special electrical equipment and parts. Ole employs a standard co accounting system with separate standards established for each product A special transformer is manufactured in the Transformer Department Production volume is measured by direct labor hours in this department and a flexible budget system is used to plan and control department overhead Standard costs for the special transformer are determined annually in September for the coming ycar. The stundard cost of a transformer was computed at $57,00 25 shown below Direct materials: Copper Direct labor Variable overhead Fixed overhead Total 3 spool 53.00 4 hours a $7.00 4 hours $3.00 4 hours $2.00 9.00 28.00 12.00 8.00 557.00 Overhead rates were based upon normal and expected monthly capacity, both of which were 4.000 direct labor hours. Practical capacity for this department is 5,000 direct labor hours per month Variable overhead costs are expected to vary with the number of direct labor hours actually used During October, 900 transformers were produced. This was below expectations became a work stoppage occurred during contract negotiations with the labor force. Once the contract was settled, the wage rate was increased to $7.25/hour and overtime was scheduled in an attempt to catch up to expected production levels The following costs were incurred in October: Direct materials: Copper purchased 2.600 spools @ $3.08/spool Used: 2.600 spools Direct labor: Regular time Overtime 2.000 hours 57.00 1.400 hours @ $7.25 600 of the 1,400 hours were subject to overtime premium. The total overtime premium is included in variable overhead in accordance with company accounting practices. Overhead: Variable Fixed $16,670 $8,800 10 a. Direct materials price variance. b. Direct material efficiency (quantity) variance. c. Direct labor rate variance. d. Direct labor efficiency variance. e. Variable overhead spending variance. f. Variable overhead efficiency variance. Fixed overhead spending (budget) variance. h. Production volume variance