20-20 (oook/Static) Mason Fender uses a standard cost system and provide the following information: Question Help Click the icon to view the information.) allocates manufacturing overhead to production based on standard direct labor hours. Mason Fender reported the following actual results for 2018: actual number of fenders produced, 20,000, actual variable overhead, $5,350; actual fixed overhead, $26,000; actual direct labor hours, 460 Read the requirements. Requirement 1. Compute the overhead variances for the year: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume variance. Begin with the variable overhead cost and efficiency variances. Select the required formulas, compute the variable identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC - standard cost SQ-standard quantity: VOH variable overhead.) Data Table Formula Variance VOH cost variance VOH efficiency variance Static budget variable overhead Static budget fixed overhead Static budget direct labor hours Static budget number of units Standard direct labor hours $ 2,300 $ 23,000 575 hours 23,000 units 0.025 hours per fende Print Done Choose from any list or enter any number in the input fields and then click Check Answ parts Clear All Check Answer 5 remaining