. 1 Data Table Static budget variable overhead $ 7,700 Static budget fixed overhead $ 3,300 Static budget direct labor hours 1,100 hours Static budget number of units 2,750 units Johnson allocates manufacturing overhead to production based on standard direct labor hours. Last month, Johnson reported the following actual results: actual variable overhead, $10,300; actual fixed overhead, $2,790; actual production of 6,800 units at 0.30 direct labor hours per unit. The standard direct labor time is 0.4 direct labor hours per unit (1,100 static direct labor hours / 2,750 static units) Print Done The folowing information relates to Johnson, Inc.'s overhead costs for the month: Click the icon to view the information.) Requirements 1. Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume variance. 2. Explain why the variances are favorable or unfavorable. Requirement 1. Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume variance Begin by selecting the formulas needed to compute the variable overhead (VOH) and fixed overhead (FOH) variances, and then compute each variance amount - VOH cost variance - VOH efficiency variance = FOH cost variance = FOH volume variance = Requirement 2. Explain why the variances are favorable or unfavorable because Johnson actually spent than budgeted The variable overhead cost variance is The variable overhead efficiency varian cause the actual hours used was than budgeted favorable unfavorable The fixed overhead cost variance is ohnson actually spent than budgeted for fixed overhead. The fixed overhead volume variance is because Johnson allocated overhead to jobs than the budgeted foxed overhead amount. Requirement 2. Explain why the variances are favorable or unfavorable The variable overhead cost variance is because Johnson actually spent than budgeted The variable overhead officiency variance is because the actual hours us than budgeted loss more because Johnson actually spent The foxed overhead cost variance is eted for fixed overhead The fixed overhead volume variance is because Johnson allocated overhead to jobs than the budgeted foxed overhead amount. Requirement 2. Explain why the variances are favorable or unfavorable because Johnson actually spent than budgeted The variable overhead cost variance is The variable overhead efficiency variance is because the actual hours used was than budgeted The fixed overhead cost variance is because Johnson actually spent V than budgeted for fixed overhead. The foxed overhead volume variance is because Johnson allocated overhead to jobs than the budgeted fixed overhead amount