Bargain Fender uses a standard cost system and provide the following information: (Click the icon to view the information) Bargain Fender allocates manufacturing overhead to production based on standard direct labor hours. Bargain Fonder reported the following actual results for 2018 actual number of fonders produced, 20,000; actual variable overhead, $4.730; actual fixed overhead, $35,000; actual direct labor hours, 470. 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 overhead cost and efficiency variances, and identify whether och variance is favorable (F) or unfavorable (U). (You may need to simply the formula based on the data provided. Abbreviations used: AC = actual cost: AD actual quantity: FOH = foed overhead: SC standard cost, SQ = standard quantity, VOH = variable overhead.) Formula Variance VOH cost variance VOH officiency variance LU) d cost system and provide the following information: nformation.) ifacturing overhead to production based on standard direct labor hours. Bargain F Iced, 20,000; actual variable overhead, $4,730; actual fixed overhead, $35,000; ac Data Table ad DV Static budget variable overhead Static budget fixed overhead Static budget direct labor hours Static budget number of units Standard direct labor hours $ 3,640 $ 29,120 728 hours 26,000 units 0.028 hours per fender Print Done any number in the input fields and then click Check Answer. Clear All