Ovethead Variances, Four Variance Ahalys Oenitanan, Inc, uses a standord costinp systern and develops its overhead rates from the current annual budget The badpet is based on an expected annual output of 122,000 units requiring 488,000 direct labor hours. (Practical capacty is 508,000 hours.) Annual budgeted overfiead coses total $790,560, of which $566,060 is fived everfiead. A total of 119,000 urits using 486,000 direct labor hours were produced during the year. Actual vanable owethead costs for the year were $260,000, and actual foxed overtiead costs wore $555,050. Required: 1. Compute the fored overhead spending and volume variances. 2. Compute the vanable overfead spending and efficiency variances. Do not round intermediate calculations Fiechack T Giva Mr Wion