Wharton Tooling uses a standard cost system to account for the costs of its one product. Standard labor input is 14 hours per unit. The standard variable overhead rate is $9.00 per direct labor hour, and fixed overhead is budgeted at $150 per unit, based on budgeted production of 650 units. During July, Wharton Tooling produced 600 units. Payroll totaled $112,930 for 8,770 hours worked. Overhead incurred was $78,053 variable and $98,750 fixed. Required: a. Calculate the variable overhead rate variance. Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance). b. Calculate the variable overhead efficiency variance. Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance). c. Calculate the fixed overhead spending variance. Note: Indicate the effect of variance by selecting "Favorable", "Unfavoralle", or "None" for no effect (i.e., zero variance). a. Rate Variance b. Efficiency Variance c. Spending Variance

Wharton Tooling uses a standard cost system to eccount for the couts of is one product. Standard labor input is l4 hours per unit. The production of 650 units burng incurred wat 578,053 variable and 598,750 riked. Required: Required: a. Calculate the variable overhead rate variance Note: Indicate the effect of variance by selecting "Favorable", "Unfavorabie", or "None" for no effect (l.e., zero variance). b. Caiculate the varlable overhead efficiency varlance. Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (1.e, zero variance). c. Calculate the fred overhead spending variance. Note: Indicate the effect of variance by selecting "Favorable". "Unfavorate", or "None" tor no effect (i.e., zero variance)