Overhead Variancee At the beginning of the year, Loper Company had the following standard cost shect for one of its chemical products: Lopez computes its ovorhead rates using practical volume, which is 80,000 units. The achusi results for the year are as follows: (a) Units producted: 79,600 ; (b) oirect laber 158,900 hours ot $18,10; (c) FOH: $831,000; and (d) VoH: $112,400. Required: 1. Compute tha variable overhead spending and efficlency variances, Enter amounts as pontive numbers and select Favorable or Unfovorable. 2. Compute the fixed overhead spending and volume variances. Enter amounts as positive numbers and select Favoratie or Unfavorable. Spending variance volume variance