All $-$ Star Fender uses a standard cost system and provide the following information:

$($Click the icon to view the information.$)$

All $-$ Star Fender allocates manufacturing overhead to production based on standard direct labor hours. All $-$ Star Fender reported the following actual results for $2024$: actual number of fenders produced, $20,000$ ; actual variable overhead, $$4,850$; actual fixed overhead, $$35,000$; actual direct labor hours, $360.$

Read the requirements.

Requirement $1.$ Compute the overhead variances for the year: variable overhead cost variance, variable overhead efficiency variance, fixed

Begin with the variable overhead cost and efficiency variances. Select the required formulas, compute the variable overhead cost and efficier favorable $(F)$ or unfavorable $($U$).($You may need to simply the formula based on the data provided. Abbreviations used: $AC=$ actual cost; $AQSQ=$ standard quantity; VOH$=$ variable overhead.$)$

Data table

$\backslash$table$[[,,$Formula,,Variance$],[$VOH cost variance,$=,(AC-SC)AQ,=,],[$VOH efficiency variance,$=,(AQ-SQ)AC,$grad$=,]]$

$\backslash$table$[[$Static budget variable overhead,$$3,600$