er. Grand Fender also uses a standard cost system and provide the following infc ead to production based on standard direct labor hours. Grand Fender reported to actual variable overhead, $5,300; actual fixed overhead, $35,000; actual direct lat X - . Data Table ia ncy v ad cc H=f mfa ead $ 8,640 $ 34,560 Static budget variable overhead Static budget fixed overhead Static budget direct labor hours Static budget number of units Standard direct labor hours 864 hours 32,000 units 0.027 hours per fender Print Done aber in the input fields and then click Check Answer. Clear All EK SIX: Chapter 8 : Exercises 13 of 16 (4 complete) und Fender. Grand Fender also uses a standard cost system and provide the following informati mation.) ing overhead to production based on standard direct labor hours. Grand Fender reported the foll 20,000; actual variable overhead, $5,300; actual fixed overhead, $35,000; actual direct labor ho he e. nc * Requirements OS ind 0 le 1. Compute the overhead 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. Print Done any number in the input fields and then click Check Answer. Clear All TUINWUIR. Week SIX: Chapter 8: Exercises Save Score: 0 of 1 pt 13 of 16 (4 complete) HW Score: 23.07%, 3.69 of 16 pts E23-20 (similar to) Question Help Grand Fender is a competitor of Grand Fender. Grand Fender also uses a standard cost system and provide the following information: (Click the icon to view the information.) Grand Fender allocates manufacturing overhead to production based on standard direct labor hours. Grand Fender reported the following actual results for 2016: actual number of fenders produced, 20,000; actual variable overhead, $5,300, actual fixed overhead, $35,000; actual direct labor hours, 360. Read the requirements Requirement 1. Compute the overhead variances for the year. variable overhead cost variance, variable overhead officiency variance, fixed overhead cost variance, and fixed overhead volume variance. Begin with the variable overhead cost and efficiency variances. Select the required formulas, compute the variable overhead cost and efficiency variances, and identify whether each variance is 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 Varianco VOH cost variance VOH efficiency variance Choose from any list or enter any number in the input fields and then click Check Answer. 5 parts remaining Clear All Check