Variable overhead is applied at $27.50 per direct labour-hour. Actual variable overhead was $310,600. Required: 1. Compute the fixed overhead budget variance. (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).) 3. Compute the total variable overhead variance and its component variances. (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).)