Bargain Fender uses a standard cost system and provide the following informetion: Hit (Click the icon to vew the information) Bargain Fender allocales manutacturing overhead to production basod on standard diect labor hours. Bargain Fencer roportad the folowing actual results for 2024 actual number of fenders produced, 20,000 ; actual varlable overhead, 54,960 , actual fixed overhead, 530.000 ; actubl direct labor hour 400 . Read the tegukements Requirements 1. Compuse the overhead variances tor the yeaf variable overhead cost yatisnce, variable overhead efficiency variance, fxed ovechead cost vatiance, and fixed evertiead volume variance. 7. Explast why that varlances are favorable or urfavorable