8 The following information relates to Brookman, Inc.'s overhead costs for (Click the icon to view the information) Requirements 1. Compute the overhead vanances for the month: variable overhead cost variance, variable overhead officiency variance, fixed ove 2. Explain why the variances are favorable or unfavorable. Requirement 1. Compute the overhead vanances for the month variable overhead cost variance, variable overhead efficiency varianc Begin by selecting the formulas needed to compute the variable overhead (VOH) and fixed overhead (FOH) variances, and then compu (Actual cost - Standard cost) Actual hours VOH cost variance (Actual hours - Standard hours allowed) x Standard cost - VOH efficiency variance Actual overhead. Budgeted overhead FOH cost variance Budgeted overhead - Allocated overhead FOH volume variance Enter any number in the edit fields and then click Check Answer mpute each variance amount. Data Table $ 7,000 $ 3,000 Static budget variable overhead Static budget fixed overhead Static budget direct labor hours Static budget number of units 1,000 hours 4,000 units Brookman allocates manufacturing overhead to production based on standard direct labor hours Last month, Brookman reported the following actual results: actual variable overhead, $10,600; actual fixed overhead, $2,800; actual production of 7,000 units at 0.40 direct labor hours per unit. The standard direct labor time is 0.25 direct labor hours per unit (1,000 static direct labor hours / 4,000 static units). Print Done