Exercise 9-6 (Algo) Variable Overhead Variances [LO9.6] Logistics Solutions provides order fulfilment services for dotcom merchants. The company maintains warehouses that stock items carried by its dotcom clients. When a client receives an order from a customet, the order is forwarded to Logistics Solutions, which pulls the item 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, 130,000 items were shipped to customers using 4,700 direct labor hours. The company incurred a total of $13,630 in variable overhead costs According to the company's standards, 0.03 direct labor-hours are required to fulfill an order for one item and the varlable overthead rate is $2.95 per direct labor-hour. Required: 1. What is the standard labor hours allowed (SH) to ship 130,000 itemis to customers? 2. What is the standard variable overthead cost allowed (SH - SR) to ship 130,000 items to customers? 3. What is the varlable overhead spending variance? 4. What is the variable overhead rate variance and the variable oveshead efficiency variance? (For requirements 3 and 4 , indicate the effect of each voriance by selecting " F " for favorable, " U for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.)