2 S23-10 (similar to) The following information relates to Longman, Inc.'s verheat costs for the month Click then to view the information) Requirements Comuna the overhead varlancen for the month variable overhead cost varlance, valable overhead officiency varianco, trad overhead cost variance, and tired vamad valame varianon Explain why the variances are favorable or unfavorabile Requirement 1. Compute the overhead variantun tur the month vecable whead cont variance variable somhead eliciency variance flued vahead cost variance and found overhead volume variance, Begin by lecting the formulas noted to compute the variable overhead (VH) and fixed overhead (FOH) varianons, and then computach variance amount Acht-Standard Cos) Actual es VOH con variance 5200 -X As Sundador lowed) - Standard cost VOH cancy valance Data Table Adulvad Busqueda FOH costante Budgeted owad Allocated ovethead FOH volume variance State budget variable overhead 3000 Suatie budget fixed overhead 5 3.000 Static huge director hours 000 h Static budget anber of units Longman locales manufacturing overhead to production hased on standard director hours last montagna reported lowing actual restachiavare owed 510 100 actual fedha 2,0 production of 7.200 m2 direct labor hours The standard direct bort 02 direct laborum perant (1.000 stadecor hours 000 3 2 S23-10 (similar to) The following information relates to Longman, Inc.'s verheat costs for the month Click then to view the information) Requirements Comuna the overhead varlancen for the month variable overhead cost varlance, valable overhead officiency varianco, trad overhead cost variance, and tired vamad valame varianon Explain why the variances are favorable or unfavorabile Requirement 1. Compute the overhead variantun tur the month vecable whead cont variance variable somhead eliciency variance flued vahead cost variance and found overhead volume variance, Begin by lecting the formulas noted to compute the variable overhead (VH) and fixed overhead (FOH) varianons, and then computach variance amount Acht-Standard Cos) Actual es VOH con variance 5200 -X As Sundador lowed) - Standard cost VOH cancy valance Data Table Adulvad Busqueda FOH costante Budgeted owad Allocated ovethead FOH volume variance State budget variable overhead 3000 Suatie budget fixed overhead 5 3.000 Static huge director hours 000 h Static budget anber of units Longman locales manufacturing overhead to production hased on standard director hours last montagna reported lowing actual restachiavare owed 510 100 actual fedha 2,0 production of 7.200 m2 direct labor hours The standard direct bort 02 direct laborum perant (1.000 stadecor hours 000 3 in compute each variance amount 1 Data Table $ 8,000 $ 3,000 Static budget variable overhead Static budget fixed overhead Static budget direct labor hours Static budget number of units 1,000 hours 5,000 units Longman allocates manufacturing overhead to production based on standard direct labor hours. Last month, Longman reported the following actual results: actual variable overhead, $10,100; actual fixed overhead, $2,830, actual production of 7.200 units at 0.25 direct labor hours per unit. The standard direct labor time is 0.2 direct labor hours per unit (1,000 static direct labor hours / 5,000 static units) Print Done S23-10 (similar to The following information relates to Longman, Inc.'s overhead costs for the month Click the icon to view the information) Requirements Computs the overhead variances for the month variable overhead cont variance variable overhead efficiency variance fived overhead cos valance, and fed avea volume variance 2. Explain why the variances are favorable or unfavorable Requirement 1. Compute the overhead variances for the month variable overhead con variance, Variable overhead officiency variance food overhead cost variance and feed avhand volume variance Begin by selecting the formulas needed to compute the variable overhead (VOH and feed overhead (FOHI) variances and then compute wach variance amount Achat Standard cost - Actual VOH Gostariance 6200 (Adults Sandard hours wowed Standards VOH widency walance At veread-udged overhead FOH cost variance Bedste overhead-Alocated owhead FOH volume variance