Peggy's Eyes Inc. produces exquisite sunglasses. The following standard costs were developed for one of their products: Standard Cost per Unit Total Variable overhead 7 hours @ $8 per hour $ 56 Overhead is applied to products on the basis of standard direct labor hours for actual production The following information is available regarding the company's operations for the period: Actual units produced Total actual direct labor hours Actual variable manufacturing overhead incurred Budgeted units for the period Required: 12,100 units 88,000 hours $ 792,000 10,800 units Calculate the variable overhead variances. Use your answer to answer the following questions. NOTE: Please enter all variances as positive numbers. The amount of the variable manufacturing overhead spending variance for the period is $ A Indicate if the variable manufacturing overhead spending variance is favourable (enter the letter F) or unfavourable (enter the letters UF). A/ The amount of the variable manufacturing overhead efficiency variance for the period is $ A Indicate if the variable manufacturing overhead efficiency variance is favourable (enter the letter F) or unfavourable (enter the letters UF). A