Requirements 1. Compute two variances that help determine whether the time spent on inspections was more or less than expected. (Follow a format similar to the one used for the variable overhead spending and efficiency variances, but without prices.) 2. Compute two variances that can be used to evaluate the percentage of the chips that fails the inspection. Sylvia's Kettle Potato Chips produces gourmet chips distributed to chain sub shops throughout California. To ensure that their chips are of the highest quality and have taste appeal, Sylvia has a rigorous inspection process. (Click the icon to view additional information.) Read the requirements. Requirement 1. Compute two variances that help determine whether the time spent on inspections was more or less than expected. Begin by calculating the following amounts for the inspection hours. (Enter your answers to one decimal place, X.X.)