Oerstman, Inc., uses a standard costing system and develops its overhead rates from the current annual budget. The budget is based on an expected annual output of $120,000$ units requiring $480,000$ direct labor hours. $($Practical capacity is $500,000$ hours.$)$ Annual budgeted overhead costs total $$787,200,$ of which $$556,800$ is fixed overhead. A total of $119,400$ units using $478,000$ direct labor hours were produced during the year. Actual variable overhead costs for the year were $$230,600,$ and actual fixed overhead costs were $$556,250.$

Required:

$1.$ Compute the fixed overhead spending and volume variances.

Fixed Overhead Spending Variance $fill in the blank $1$

$550$

Favorable

Fixed Overhead Volume Variance $fill in the blank $3$

Unfavorable

$2.$ Compute the variable overhead spending and efficiency variances.

Variable Overhead Spending Variance $fill in the blank $5$

Unfavorable

Variable Overhead Efficiency Variance $fill in the blank $7$

Unfavorable