Required information [The following information applies to the questions displayed below.) Sedona Company set the following standard costs for one unit of its product for this year. Direct material (20 Ibs. @ $2.60 per Ib.) Direct labor (10 hrs. @ $8.00 per hr.) Variable overhead (10 hrs. @ $4.40 per hr.) Fixed overhead (10 hrs. @ $2.00 per hr.) Total standard cost $ 52.00 80.00 44.00 20.00 $196.00 The $6.40 ($4.40 + $2.00) total overhead rate per direct labor hour is based on an expected operating level equal to 75% of the factory's capacity of 54,000 units per month. The following monthly flexible budget information is also available. Flexible Budget Budgeted output (units) Budgeted labor (standard hours) Budgeted overhead (dollars) Variable overhead Fixed overhead Operating Levels ( % of capacity) 70% 75% 80% 37,800 40,500 43,200 378,000 405,000 432,000 $1,663,200 810,000 $2,473,200 $1,782,000 810,000 $2,592,000 $1,900,800 810,000 $2,710,800 Total overhead During the current month, the company operated at 70% of capacity, employees worked 365,000 hours, and the following actual overhead costs were incurred. Variable overhead costs Fixed overhead costs $1,625,000 854,000 $ 2,479,000 Total overhead costs Required 1 Required 2 Required 3 Compute the variable overhead spending and efficiency variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Rate per unit" to 2 decimal places.) Actual Variable OH Cost Flexible Budget Standard Cost (VOH applied) 0 $ 0 0