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 act Read the requirements Requirement 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variant Begin with the variable overhead cost and efficiency variances Select the required formulas, compute the variable overhea cost SQ = standard quantity: VOH = variable overhead) Formula Variance VOH cost variance VOH efficiency variance - Data table $2,200 $3,300 Static budget variable overhead Static budget fixed overhead Static budget direct labor hours Static budget number of units Standard direct labor hours 1.100 hours 550 units 2 hours per unit Print Done 1. Best reported the following actual molts sur 2018 actual number of units produce 1000 actual variable overhead $.000 do 11.00, diretor 1.400 overhead cast and volume variances as compute the variable overhead cost and wifficiency ince and identity whether och variance is love (F)unbile Avtomatlast, AFO. - X