Aseller hired a broker under the terms of an open listing agreement. while that agreement was still in effect, the seller – without informing the first broker – hired another broker from a separate firm under an exclusive right-to-sell listing for the same property. if the first broker produces a buyer for the property whose offer the seller accepts, the seller must pay a full commission to

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 $772,800, of which $556,800 is fixed overhead. a total of 119,300 units, using 478,000 direct labor hours, were produced during the year. actual variable overhead costs for the year were $260,400 and actual fixed overhead costs were $555,450.required: 1. compute the fixed overhead spending variance and indicate if favorable or unfavorable.2. compute the fixed overhead volume variance and indicate if favorable or unfavorable.