The Following Data for November Have Been Provided by Norton

Essay

The following data for November have been provided by Norton Corporation,a producer of precision drills for oil exploration: $$\begin{array} { | l | r | l | } \hline \text { Budgeted production } & 4,000 & \text { drills } \\\hline \text { Standard machine-hours per } & 8.4 & \text { machine-hours } \\\text { drill } & \$ 9.40 & \begin{array} { l } \text { per machine- } \\\text { hour }\end{array} \\\hline \text { Standard indirect labor } & \$ 2.90 & \begin{array} { l } \text { per machine- } \\\text { hour }\end{array} \\\hline \text { Standard power } & 4,300 & \text { drills } \\\hline \text { Actual production } & 36,530 & \text { machine-hours } \\\hline \text { Actual machine-hours } & \$ 362,756 & \\\hline \text { Actual indirect labor } & \$ 97,693 &\end{array}$$
Required:
Compute the variable overhead rate variances for indirect labor and for power for November.Indicate whether each of the variances is favorable (F)or unfavorable (U).Show your work!