All - Star, Inc. uses a standard cost system and provides the following information. E (Click the icon to view the information.) All - Star allocates manufacturing overhead to production based on standard direct labor hours. All - Star reported the following actual results for 2018: actual number of units produced, 1,000; actual variable overhead, $5,000; actual fixed overhead, $3,500; actual direct labor hours, 1,800. Read the reguirements. Data Table Requirement 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variances. Begin with the variable overhead cost and efficiency variances. Select the required formulas, compute the variable overhead cost and eff unfavorable (U). (Abbreviations used: AC = actual cost; AQ = actual quantity; FOH = fixed overhead; SC = standard cost; SQ = standard Static budget variable overhead 2,200 Formula Variance $ 3,300 Static budget fixed overhead 1400 U (AC - SC) x AQ VOH cost variance %3D Static budget direct labor hours 1,100 hours (AQ - SQ) x SC VOH efficiency variance 550 units Static budget number of units Now compute the fixed overhead cost and volume variances. Select the required formulas, compute the fixed overhead cost and volume (U). (Abbreviations used: AC = actual cost; AQ = actual quantity; FOH = fixed overhead; SC = standard cost; SQ = standard quantity.) Standard direct labor hours 2 hours per unit Formula Variance Print Done Choose from any list or enter any number in the input fields and then continue to the next question. All - Star, Inc. uses a standard cost system and provides the following information. E (Click the icon to view the information.) All - Star allocates manufacturing overhead to production based on standard direct labor hours. All Star reported the following actual res $5,000; actual fixed overhead, $3,500; actual direct labor hours, 1,800. 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variances. Explain why the variances are favorable or unfavorable. 2. Read the reguirements. Actual FOH - Budgeted FOH FOH cost variance Print Done Bugeted FOH - Allocated FOH FOH volume variance Requirement 2. Explain why the variances are favorable or unfavorable. $ 2,200 Static budget variable overhead v than the standard cost pl The variable overhead cost variance is because the actual cost per direct labor hour was $ 3,300 Static budget fixed overhead 1,100 hours Static budget direct labor hours V because management used direct labor hours than standard and var The variable overhead efficiency variance is Static budget number of units 550 units V because the total fixed overhead cost was than the amount budgeted for total The fixed overhead cost variance is Standard direct labor hours 2 hours per unit V than the total bud The fixed overhead volume variance is V because total fixed overhead cost allocated to units was Print Done Choose from any list or enter any number in the input fields and then continue to the next