The Cook Company uses a Standard Predetermined Overhead Rate of $6.00 per unit. The rate was determined, based on a yearly normal volume of 100,000 units, requiring 20,000 direct labour hours, and on normal budgeted costs at that volume as follows:Fixed Costs200,000Variable Costs400,000600,000During the month of November, the company produced 8,200 units of the product, requiring 1,700 direct labour hours. Actual manufacturing overhead costs for the month included:Fixed Costs16,667Variable Costs33,26049,927Required:Calculate the amount of over or underapplied for the month and calculate the overhead variances which analyse the total under/over applied overhead.