Dverhead Variances at the beginning of the year, Lopez Company had the following standard cost sheet for one of its chemical products: Lopez computes its overhead rates using practical volume, which is 80,000 units. The actual results for the year are as follows: Required: 1. Compute the variable overhead spending and efficiency variances. Enter amounts as positive numbers and select Favorable or 2. Compute the fixed overhead spending and volume variances. Enter amounts as positive numbers and select Favorable or Unfav Spending variance 1 Volume variance following standard cost sheot for one of its chemical products: jency variances. Enter amounts as pasitive numbers and select Favorable or undavaratle. variances. Enter amounts as positive numbers and select favorable or unfavorable..

1. Dverhead Variances at the beginning of the year, Lopez Company had the following standard
cost sheet for one of its chemical products: Lopez computes its overhead rates using practical
volume, which is 80,000 units. The actual results for the year are as follows: Required: 1.
Compute the variable overhead spending and efficiency variances. Enter amounts as positive
numbers and select Favorable or 2. Compute the fixed overhead spending and volume variances.
Enter amounts as positive numbers and select Favorable or Unfav Spending variance 1 Volume
variance
following standard cost sheot for one of its chemical products: jency variances. Enter amounts as
pasitive numbers and select Favorable or undavaratle. variances. Enter amounts as positive
numbers and select favorable or unfavorable.