Bergain Fender uses a standard cost system and provide the following information: (Clok the icon to view the information)] Bargain Fender allocates manufacturing overhend to production based on standard direct labor hours. Bargan Fender reported the following actual results for 2024 actual rumber of fendens produced, 20,000; actual yariable overtwead, 56,200 ; actual fixed ovediead, $34,000; actual direct laboe hours, 360 . Read the cequiroments Requirement 1. Compute the overhead variances for the year: variable overtead cost variance, variable overhead efficiency variance, fixed overhood cont variance, and foed overtead volume variance. Begin wat the variable overhead cost and efficiency variances. Select the required formulas, compute the vanable overhosd coat and aficiency variances, and idently whether each variance is favorable (F) or unfavorable (U), (You may need to simply the formula based on the data provided Abbreviations used: AC = actual cost; AQ = actual quantify, FOH = fixed overhead, SC = stand cost: SQ = standard quantly: VOH = varable ovemend.) Data table Requirements 1. Compute the overhead variances for the year variable overhead cost variance, varable overhead efficiency variance, fixed overhead cost variance, and foxed overtiead volume variance. 2. Explain why the variances are favorable or untavorable