Deluxe Fender uses a standard cost system and provide the following information: (Click the icon to view the information.) Deluxe Fender allocates manufacturing overhead to production based on standard direct labor hours. Deluxe Fender reported the following actual results for 2024: actual number of fenders produced, 20,000; actual variable overhead, $6,300; actual fixed overhead, $35,000; actual direct labor hours, 480. Read the reguirements. Data table Requirements 1. Compute the @verhead variances for the year: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume variance. 2. Explain why the variances are favorable or unfavorable