Straightforward calculation of overhead variances: manufacturer The data below relate to Super Fit Ltd, a manufacturer of exercise equipment, for the month of August: Standard variable overhead rate $18 per machine hour 2 hours per unit of output $180 000 15 000 units Standard quantity of machine hours Budgeted fixed overhead Budgeted output Actual results for August are as follows: Actual output Actual variable overhead Actual fixed overhead 13 500 units $504.900 $183.000 29 700 machine hours Actual machine time Required: Calculate the following variances, indicating whether each variance is favourable or unfavourable: 1 Variable overhead spending variance. 2 Variable overhead efficiency variance. 3 Fixed overhead budget variance. 4 Fixed overhead volume variance