Problem E: The standard ansowat of outpot for the Chicago plant of Worldworth Conapany is 50,000 taits per inocth. Overhead is applied based on units prodisced. The flexible badpet of the month for maguficturing overhead allows $180,000 for fixed overhead and $4.80 per unat of ounput for variable overhead. Actusl 3 overhead for the mothh consisted of $181.440 of fixed overhead; the actial vatiable overhead is listed below in the requirements. 4 Requirement 1: Compote the Variable Overbead Spending Variance, the Variable Overbead Efficiency Variance and the Total Overhead Variance and the Total Fixed Overhead Variance. Also indicate whether the variances are Favorable of Unfavorable. 5 4 Requirement 2: Cocopute the variances mentioned in requirement 1 -assmaing the following nctual prodaction in units and actual variable overhead in dollars: b) 55,000 production in wits and $270.480 actual variable overthead 10 90VariableOverhes b) Overhead based on 55,000 production units and $270,460 actual variable overhead Do not round this number or your answer will be wroeg. It should be carried oet to 5 decimal places. (Make sure all variance amound