Required informetion SB (Static) Patel and Sons [The following information opplies to the questions displuyed birlow] Patel and Sons lncorporated uses a standard cost system to appy factory orerhead coats to units produced. Proctical cepacity for the plant is defined as 50.000 machine hours per year, which representi 25 . 000 units af output. Annus budgeted fixed factory ovethedo cols ace $250000 and the budgeted vartable factory ovelnend cost rate is $4 per unt. Factory overtiesd costs are appled on the basis of stancard mathine haurs allowed for unies produced. Butgeted and actual output for the year was 20.000 units wh whi took 41.000 machine hours. Actual Gued factary overfiead costs for the year amounted to 5245,000 , while the actual varlable oreriecas cost per unit was 5390 : Brief Exercise 15-17 (Static) Given this information, what was (a) the variable overhead... [LO 15-2] Based on the information provided above, what was (a) Bhe variable overhesd upending variance far the yeat, and (b) the variable pwerhead efliciency varlance for the year? Indicate whesher each vanance was favocable (P) of unfavorable (U). (Do not round intermediate calculations. Round yout finnl onswers to the nearest whole dollar amount