Below is a schedule showing the breakdown of standard cost assumptions for the month, based on a normal operating capacity of 2,000 units: Standard Cost Assumptions: Rate $ Direct material (kg) Direct labour (hour) Variable overhead Units produced Cost of direct material purchased Price paid for direct materials (per kg) Amount of direct material used (kg) Direct labour rate (per hour) Cost of direct labour Usage (consumed per unit) Fixed overhead Total Factory overhead is applied on the basis of standard direct labour hours. For the month the following actual cost data was obtained: Actual Cost Data: Variable overhead Fixed overhead 0.7 0.5 0.5 0.5 2,100 $50,820.00 $33.00 2. Variable overhead efficiency variance (3 marks) VOHEV = (AH-SH) X SVOR 1,500 $20.50 $22,550.00 $3,500.00 $8,000.00 Required: Calculate the following variances for the month: 1. Variable overhead spending variance (3 marks) VOHSV = Actual VOH-SVOR X AH $30.00 $20.00 $2.50 $7.00 Standard cost per unit $21.00 $10.00 $1.25 $3.50 $35.75