Party Wheels Company applies manufacturing overhead costs to products on the basis of direct labour hours. The standard cost card shows that 3 direct labour hours are required per unit of product. For August, the company budgeted to work 90,000 direct labour hours and to incur the following total manufacturing overhead costs: Total Variable Overhead Costs $100,000 Total Fixed Overhead Costs $118,000 During August, the company completed 25,000 units of product, worked 86,000 direct labour hours, and incurred the following total manufacturing overhead costs: Total Variable Overhead Costs $99,000 Total Fixed Overhead Costs $115,800 The denominator activity used for the predetermined overhead rate was 90,000 direct labour hours. A) For August, what was the variable overhead spending variance? B) For August, what was the variable overhead efficiency variance? Paragraph B. TUA > + + ... SA Question 8 (4 points) C) For August, what was the fixed overhead budget variance? Paragraph B 1 UA EE Question 9 (4 points) Saved D) For August, what was the fixed overhead volume variance? B R Perearach UA, op > AC > + Question 10 (12 points) E) Explain the meaning of the variable variances you computed above. Why might they have happened? F) Which of the four variances you computed above is the most important to address? Why? How might the company address it? Paragraph