Fender uses a standard cost system and provide the following information

Quality Fender allocates manufacturing overhead to production based on standard direct labor hours. Quality Fender reported the following actual results for 2024: actual number of fenders produced, 20,000; actual variable overhead, $5,900; actual fixed overhead, $31,000; actual direct labor hours, 410.

Data table fenders produced, 20,000; actual variable overhead, $5,900; actual fixed overhead, $31,000; actual direct labor hours, 410 . Read the requirements. standard cot; SQ= standard quntity; VOH= variable verhead. ) favorable (F) or unfavorable (U). (Abbreviations used: AC= actual cost; AQ= actual quantity; FOH= fixed overhead; SC= standard cost; SQ= standard quantity.) Requirement 2. Explain why the variances are favorable or unfavorable. The variable overhead cost variance is The variable overhead efficiency variance is The fixed overhead cost variance is The fixed overhead volume variance is because management spent because management used than budgeted for the actual production. direct labor hours than standard and variable overhead is applied (incurred) based on direct labor. because management spent because management allocated than the amount budgeted for fixed overhead. fixed overhead to jobs than was budgeted