Exercise 9-6 (Static) Variable Overhead Variances [L.09-6] Logistics Solutions provides order funfilment services for dot.com merchants. The compary maintains warehouses that stock items carried by its dot.com clients. When a cllent recelves an order from a customes, the order is forwarded to Loglstics Solutions, which pulls the item from storage, pocks it, and ships it to the customer. The company uses a predetermined varlable overhead rate based on direct labor-hours. In the most recent month, 120,000 items were shipped to customers using 2,300 direct labor-hours. The company incurred a total of $7,360 in variable overhead costs. According to the company's standards, 0.02 direct labor-hours are required to fulfill an order for one item and the variable overhead rate is $3.25 per direct labor-hour. Required: 1. What is the standard labor-hours allowed (5SH) to ship 120,000 items to customers? 2. What is the standard variable overhead cost allowed (SH = SP) to ship 120,000 ltems to customers? 3. What is the variable overhend spending varlance? 4. What is the variable overhead rate variance and the variable overhead efficiency varlance? (For requirements 3 and 4 , Indicate the effect of each varlance by selecting "F" for favorable, " U " for unfavorable, and "None" for no effect (l.e., zero variance). Input all amounts as positve values. Do not round intermediate calculations)