The following data were drawn from the records of Gibson Corporation.

Planned volume for year (static budget)		4,400	units
Standard direct materials cost per unit		2.20	pounds	@	$	1.90	per pound
Standard direct labor cost per unit		2.40	hours	@	$	3.40	per hour
Total expected fixed overhead costs	$	21,560
Actual volume for the year (flexible budget)		4,600	units
Actual direct materials cost per unit		1.60	pounds	@	$	2.40	per pound
Actual direct labor cost per unit		2.50	hours	@	$	3.10	per hour
Total actual fixed overhead costs	$	17,560

Required

Calculate the labor price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U).

Calculate the predetermined overhead rate, assuming that Gibson uses the number of units as the allocation base.

Calculate the fixed cost spending variance. Indicate whether the variance is favorable (F) or unfavorable (U).

Calculate the fixed cost volume variance. Indicate whether the variance is favorable (F) or unfavorable (U).

Labor price variance
Labor usage variance

e.	Predetermined overhead rate		per unit
f.	Fixed cost spending variance
g.	Fixed cost volume variance