Exerclse $16-42($Algo$)$ Varlable Cost Varlances $($LO $16-5)$

Records at the Farnsworth Corporation contained the following data for the most recent period of activity:

Actual total direct labor cost

Actual direct labor$-$hours worked

Standard direct labor$-$hours allowed for actual output $($flexible budget$)$

Direct labor price variance

Actual variable overhead

Standard variable overhead rate per standard direct labor$-$hour

Variable overhead is applied based on standard direct labor$-$hours allowed.

Requlred:

Compute the labor and variable overhead price and efficiency variances.

Note: Do not round Intermedlate colculetlons. Indleate the effect of each varlance by selecting $"$F$"$ for favorable, or $"$U$"$ for

unfavorable. If there is no effect, do not select elther optlon.