Calculate the overhead variances of Mark & Son Ltd. The budget is prepared as:

(a) Total budgeted variable overhead: £120,000.

(b) Total budgeted fixed overhead: £48,000.

(c) Budgeted level of production activity: 60,000 direct labour hours to produce 50,000 units.

The actual results turn out to be:

(d) Actual variable overhead: £128,000.

(e) Actual fixed overhead: £46,000.

(f) Actual level of production activity was 59,000 direct labour hours which resulted in 52,000 units of production.