Party Marty, Inc. manufactures bar stools. The 2021 operating budget is based on the production of 4,800 bar stools with 1.50 machine-hour allowed per bar stools. Variable manufacturing overhead is anticipated to be $140,000.

Actual production for 2021 was 5,400 bar stools using 6,800 machine-hours. Actual variable costs were $23.25 per machine-hour.

Required:

Calculate the variable overhead spending and the efficiency variances.