Sedona Company set the following standard costs for one unit of its product for this year Direct strin (20 Direct Labor ( Variable werd ( 1 Fidor ( Total stand out 33.5e per 1.) 2. p .) 940 St. ) ) The $5.60 (5400 - $160 total overhead rato per direct labor hour is based on an expected operang level equal to 75% of the factory's capacity of 50,000 units per month. The following monthly flexible budget information is also available qua evels of capxity) 150,00 375.000 40,00 400,000 Flexible h et Bugeted output (units) But I Moritard hours) Bud over (dollars) Variable overhead Fived overhead Total overhead $1,400, 0 $1, 0. 0 52.100,00 $1.00, 00 $2,200, During the current month, the company operated at 70% of capacity, employees worked 340,000 hours and the following actual overhead costs were incurred Verle costs Total overhead costs 12,000.00 Exercise 01-10A Computing and interpreting overhead spending, efficiency, and volume variances LO AH-Actual Hours CHE Standard Hours AVR-Actual variable Rate SVR Standard Variable to Comoure the variable overhead spending and e ncy variances 2. Come the fred overhead spending and volume anance and c 2. Compute the controllerance o ach as favorable or utvorable Complete this question by entering your answers in the tabs below. Red Red 3 Comote the variable overhead spending and efficiency variances (Indicate the effect of each variance by selecting for favorable unfavorable and now Roundat per un to 2 decimal place) Required )