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A company manufactures binoculars. The cost of each pair of binoculars includes direct materials, direct labor, and manufacturing $($factory$)$ overhead. The firm traces all direct costs to products, and it assigns overhead cost to products based on direct labor hours.

The company budgeted $$14,160$ variable factory overhead cost, $$88,800$ for fixed factory overhead cost and $2,400$ direct labor hours $($its practical capacity$)$ to manufacture $4,800$ pairs of binoculars in March.

The factory used $2,800$ direct labor hours in March to manufacture $4,700$ pairs of binoculars and spent $$15,900$ on variable overhead during the month. The actual fixed overhead cost incurred for the month was $$90,900.$

Compute the following for the month indicate whether each variance is favorable $($F$)$ or unfavorable $($U$)$::

Variable overhead spending variance

Variable overhead efficiency variance

Fixed overhead budget $($spending$)$ variance

Fixed overhead volume variance

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Calculate the following variances. Indicate whether each variance is favorable $($F$)$ or unfavorable $($U$).$

$\backslash$table$[[,,],[$Variable overhead rate $($spending$)$ variance,,$],[$Variable overhead efficiency variance,,$],[$Fixed overhead budget $($spending$)$ variance,,$],[$Fixed overhead volume variance,,$]]$

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