Overhead Variances, Four$-$Variance Analysis, Journal Entries Laughlin, Inc., uses a standard costing system. The predetermined overhead rates are calculated using practical capacity. Practical capacity for a year is defined as $1,000,000$ units requiring $200,000$ standard direct labor hours. Budgeted overhead for the year is $$750,000,$ of which $$300,000$ is fixed overhead. During the year, $900,000$ units were produced using $190,000$ direct labor hours. Actual annual overhead costs totaled $$800,000,$ of which $$294,700$ is fixed overhead. $2.$ Calculate the variable overhead spending and efficiency variances. Variable Overhead Spending Variance $\backslash$$ Variable Overhead Efficiency Variance