Carlyle Capital Company offers financial services to its clients. Recently, CarlyleThe technology budget for Carlyle and its actual results for the first quarter ofhas experienced rapid growth and has increased both its client base and the2017 are given below:variety of services it offers. The company is becoming concerned about its risingcosts, however, particularly related to technology overhead.(Click the icon to view the first quarter budget information.)i (Click the icon to view the cost driver findings.)(Click the icon to view the first quarter actual results.)Read the requirements.Requirement 1. Calculate the variable overhead spending and efficiency variances, and indicate whether each is favorable (F) or unfavorable (U).Begin by computing the following amounts for the variable overhead.Actual Input Qty.Actual CostsXAllocatedIncurredBudgeted RateFlexible BudgetOverhead$11,200