At the beginning of the year, Lopez Company had the following standard cost sheet for one of its chemical products:

Direct materials (4 lbs. @ $2.80) ................$11.20

Direct labor (2 hrs. @ $18.00) .....................36.00

FOH (2 hrs. @ $5.20) ...............................10.40

VOH (2 hrs. @ $0.70) ................................1.40

Standard cost per unit .............................$59.00

Lopez computes its overhead rates using practical volume, which is 80,000 units. The actualresults for the year are as follows: (a) Units produced: 79,600; (b) Direct labor: 158,900 hours at$18.10; (c) FOH : $831,000; and (d) VOH : $112,400.

Required:

1. Compute the variable overhead spending and efficiency variances.

2. Compute the fixed overhead spending and volume variances.