Overtuead Varlances, Fourvariance Analysis Oentunar, Inc, uses a stancard costing system and develops its ovethead rates from the curcent anual budget. The budget is based on an expected annual output of 126,000 units requiring 504,000 direct labor hours. (Practical capacity is 524,000 hours.) Annual budgeted overhead costs tatal $816,480, of which $589,680 is fixed overhead. A total of 119,300 units using 502,000 direct labor hours were produced during the year. Actual variable overthead costs for the year were $262,000, and actua fixed overthead costs were 4555,350 Required: 1. Compute the fixed overhead spending and volume varitances