Deluxe, Inc. uses a standard cost system and provides the following information. (Click the icon to view the information.) Deluxe allocates manufacturing overhead to production based on standard direct labor hours. Deluxe reported the following actual results for 2024: actual number of units produced, 1,000; actual variable overhead, $3,800; actual fixed overhead, $2,700; actual direct labor hours, 1,700. Read the requirements. Data table 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 a unfavorable (U). (Abbreviations used: AC = actual cost; AQ = actual quantity; FOH = fixed overhead; SC = standard cost; SQ = sta Formula VOH cost variance Variance Static budget variable overhead Static budget fixed overhead Static budget direct labor hours Static budget number of units Standard direct labor hours $1,200 $2,400 800 hours 400 units 2 hours per unit VOH efficiency variance Print Done