Overhead Variances, Four-Variance Analysis Gerstman, 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 128,000 units requiring $12,000 direct labor hours. (Practical capacity is 532,000 hours.) Annual budgeted overhead costs total $834,560, of which 1604,160 is fixed overhead. A total of 119,100 units using $10,000 direct labor hours were produced during the year. Actual variable overhead costs for the year were $261,700, and actual ved overhead costs were $555,750. Required 1. Compute the fixed overhead spending and volume variances Fixed Overhead Spending Variance Fixed Overhead Volume Variance Favorable Unfavorable 2. Compute the variable overhead spending and efficiency variances. Do not round intermediate calculations Variable Overhead Spending Variance Variable Overhead Efficiency Variance Unfavorable Unfavorable X Overhead Variances, Four-Variance Analysis Derstman, 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 128,000 units requiring $12.000 direct labor hours. (Practical capacity is 532,000 hours.) Annual budgeted overhead costs total $834,560, of which $604,160 is fixed overhead. A total of 119,100 units using 510,000 direct labor hours were produced during the year. Actual variable overhead costs for the year were $261,700, and actual feed overhead costs were $555,750. Required: 1. Compute the fixed overhead spending and volume variances Fixed Overhead Spending Variance Fixed Overhead Volume Variance Favorable Unfavorable 2. Compute the variable overhead spending and efficiency variances. Do not round intermediate calculations Vartable Overhead Spending Variance Variable Overhead Efficiency Variance Unfavorable Unfavorable Accounting numeric field Overhead Variances, Four-Variance Analysis Derstman, 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 128,000 units requiring 512,000 direct labor hours. (Practical capacity is 532,000 hours.) Annual budgeted overhead costs total $834,560, of which $604,160 is fixed overhead. A total of 119,100 units using 510,000 direct labor hours were produced during the year. Actual variable overhead costs for the year were $251,700, and actual fixed overhead costs were $555,750. Required: 1. Compute the fixed overhead spending and volume variances. Fixed Overhead Spending Variance Fixed Overhead Volume Variance Favorable Unfavorable 2. Compute the variable overhead spending and efficiency variances. Do not round intermediate calculations Variable Overhead Spending Variance Variable Overhead Efficiency Veriance Unfavorable Unfavorable