Consider the following data regarding factory overhead:

VARIABLE FIXED Budget for actual hours of input 45,000 70,000 Applied 41,000 64,800 Budget for standard hours allowed for output achieved ? ? Actual incurred $48,500 $68,500 Using the above data, fill in the blanks in the following table. Use F for favourable or U for unfavourable for each variance. 1. Spending variance 2. Efficiency variance 3. Production-volume variance 4. Flexible-budget variance 5. Underapplied overhead TOTAL OVERHEAD VARIABLE FIXED