Overhead Application, Fixed and Variable Overhead Variances Zepol Company is planning to produce 600,000 power drills for the coming year. The company uses directl $1,777,500. The total fixed overhead budgeted for the coming year is $832,500. Predetermined overhead r 594,000 Actual variable overhead $928,000 Actual production (units) Actual direct labor hours (AH) 446,000 Actual fixed overhead $835,600 Required: 1. Compute the applied fixed overhead. 2. Compute the fixed overhead spending and volume variances. Enter amounts as positive numbers and selec Spending variance Volume variance 3. Compute the applied variable overhead. 4. Compute the variable overhead spending and efficiency variances. Enter amounts as positive numbers and se Spending variance Efficiency variance coming year. The company uses direct labor hours to assign overhead to products. Each drill requines 0.75 standard hour of labor for completion. The total budgeted overhead was is $832,500. Predetermined overhead rates are calculated using expected production, measured in direct labor hours. Actual results for the year are: ad $928,000 $835,600 nter amounts as positive numbers and select Favorable or Unfavorable. ces. Enter amounts as positive numbers and select Favorable or Unfavorable. I