The following is the standard cost card for Surrey Company's only product: Direct labour, 1.5 hours at $10.00 Direct materials, 5 metres at $4.00 Variable overhead, 1.5 hours at $4.00 Fixed overhead, 1.5 hours at $6.00 Standard cost per unit $15.00 $20.00 $6.00 $9.00 $50.00 The company manufactured and sold 14,500 units of product during the year. A total of 70,000 metres of material was purchased during the year at cost of $4.20 per metre. All of this material was used to manufacture the 14,500 units. The company records showed no beginning or ending inventories for the year. The company worked 30,000 direct labour hours during the year at a cost of $9.75 per hour. Overhead cost is applied to products on the basis of direct labour hours. The denominator activity level (direct labour hours) was 20,000 hours. Budgeted fixed overhead costs as shown on the flexible budget were $157,500, while actual fixed overhead costs were $150,000. Actual variable overhead costs were $118,000 Required: A. Compute the variable overhead spending and efficiency variances for the year. B. Compute the fixed overhead budget and volume variances for the year