17 & 18. Sandy Co, has established the following direct labor standards for one of its products, G50: Standard direct labor wage rate..............$9.50 per hour Standard rate for variable overhead.......$8.00 per hour Standard hours allowed........ ..1,320 The following data pertain to the most recent month's operations during which 400 units of product G50 were made: Actual direct labor hours worked Actual direct labor wages paid $11,385 Actual variable overhead cost $7,000 Assume that variable overhead is assessed based on labor hours. Compute the Variable Overhead variances. Indicate whether each is favorable or unfavorable, 17 & 18. Sandy Co, has established the following direct labor standards for one of its products, G50: Standard direct labor wage rate..............$9.50 per hour Standard rate for variable overhead.......$8.00 per hour Standard hours allowed........ ..1,320 The following data pertain to the most recent month's operations during which 400 units of product G50 were made: Actual direct labor hours worked Actual direct labor wages paid $11,385 Actual variable overhead cost $7,000 Assume that variable overhead is assessed based on labor hours. Compute the Variable Overhead variances. Indicate whether each is favorable or unfavorable