Shumaker Company manufacturs a line of high-top basket shoes. At the begining of the year, the following plans for production and cost were revealed: Pairs of shoes to be produced : 55000 Standard cost per unit: Direct material: $15 Direct labor: $12 Variable overhead: $6 Fixed overhead: $3 During the year, a total of 50,000 units were produced and sold. The following actual costs were incurred: Direct materials: $775,000 Direct labor: $590,000 Variable overhead: $310,000 Fixed overhead: $180,000 There were no begining or ending inventories of raw materials. In producing the 50,000 units, 63,000 hours were worked, 5 percent more hour than the standard allowed for the actual output. Overhead cost are applied to production using direct labor hours. Determine the following: a.Fixed overhead spending and volume variances. b. Variable overhead spending and efficiency variances. The result is Volume variance= $15000U; Efficiency variance =$15000U Please do me a fovor in making it clear. Thanks