Best, Inc uses a standard cost system and provides the following information Click the icon to view the information) Best allocates manufacturing overhead to production based on standard direct labor hours. Best reported the following actual results for 2024: actual number of units produced 1,000; actual variable overhead. $5,000, actual fixed overhead, $2,600; actual direct labor hours, 1900 Read the requirements Data table Requirement 1. Compute the variable overh Begin with the variable overhead cost and of each variance is favorable (F) or unfavorable quantity: VOH variable overhead) $1,200 $2.400 800 hours 400 units Static budget variable overhead Static budget fixed overhead Static budget direct labor hours Static budget number of units Standard direct labor hours d efficiency variances and Identity whether SC standard cost, SQ standard 2 hours por unit VOH cost variance VOH efficiency variance Print Done Requirements 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variances. 2. Explain why the variances are favorable or unfavorable. hcy Star Print Done 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 efficiency variances and Identity whether each variance in favorable (F) or unfavorable (U). (Abbreviations used: AC actual cost, AQ - actual quantity: FOH = fixed overhead: SC standard cost; SQ standard quantity, VOH variable overhead) Formula Variance VOH cost variance (AC-SC) AQ VOH efficiency variance (AQ - SQ) SC Clear all Check answer Help me solve this Demodocs example Get more help