[Note] This question and the next (or previous) question are based on the same data! Plimpton Company produces countertop ovens. Plimpton uses a standard costing system. The standard costing system relies on direct labor hours to assign overhead costs to production. The direct labor standard indicates that 4 direct labor hours should be used for every single oven produced. The annual budgeted production volume is usually 9,000 units per year. The budgeted overhead costs for the coming year are determined as follows: Fixed overhead Variable overhead $144,000 $180,000 Plimpton applies overhead on the basis of direct labor hours. During the year, Plimpton produced 8,000 units, worked 32,500 direct labor hours, and incurred total $295,000 of overhead costs, of which $134,000 is fixed overhead. What are the variable overhead (1) spending variance and (2) efficiency variance? (1) $1,500 F; (2) $17,500 F (1) $1,500 F; (2) $2,500 U (1) $1,000 U; (2) $2,000 F O (1) $31,000 U; (2) $2,000 U