Exercise 10-3 (Algo) Variable Overhead Variances [LO10-3] Logistics Solutions provides order fulfilment services for dot com merchants. The compary maintains warehouses that stock liems carmed by its dot com clients. When a cilent recelves an order from a customer, the order is forwarded to Logistics Solutions, which pulis the rem from storage, packs it, and ships it to the customer. The company uses a predetermined variable overhead rate based on direct labor-hours. In the most recent month, 200,000 rems were shipped to customers using 8,900 direct labor-hours. The company incurred a total of $32,040 in variable overhead costs. According to the company's standards, 0.03 direct labor-hours are required to fultil an order for one item and the varlable overhead rate is $3.65 per direct labor-hour. Required: 1. What is the standard labor-hours allowed (SH) to ship 200,000 ttems to customers? 2. What is the standard vartable overhead cost allowed (SH * SR) to ship 200,000 thems to customers? 3. What is the variable overhead spending vanance? 4. What is the variable overhead rate variance and the varible overhead efficiency variance? (For requirements 3 and 4 , Indicate the effect of each variance by selecting " F " for favorable, "U" for unfavorable, and "None" for no effect (L.e., zero variance). Input all amounts as positive values. Do not round Intermediote calculations.)