A Question 2 ( 6 points) Retake question Royall Control Company, which manufactures electrical switches, uses a standard cost system in which manufacturing overhead costs are applied to units of product on the basis of machine hours ( MHs ). Budgeted machine hours per month is 300,000 hours. The standard overhead costs are shown below: The following information is available for the month of October: Compute the fixed overhead spending variance for October. Indicate if it is favorable (F) or unfavorable (U). Example of Answer: 4000U 4000F (No comma, space, decimal point, or $ sign) Compute the variable overhead efficiency variance for October. Indicate if it is favorable (F) or unfavorable (U). Example of Answer: 4000U4000F (No comma, space, decimal point, or $ sign) Compute the variable overhead spending variance for October. Indicate if it is favorable (F) or unfavorable (U). Example of Answer: 4000U 4000F (No comma, space, decimal point, or $ sign)