Good Deal, Inc uses a standard cost systam and provdes the following information. - [7] (Click the icon to view the information.) Good Deal alocates manufacturing overhead to production based on standard direct labor hours, Good Deal reported the following actual resilts for 2024 actual number of units prodvced, 1,000 ; actual variable ovechead, $5,000; actual foed overhead, $3,500; actual drect labor hours, 1,900. Read the reguirements. Requirement 1. Compule tho vanable overhead cost and efficiency variances and fied overtead cost and voluene variances. Begin with the varisble overhead oost and efficiency varionces. Select the required formulas, compule the variable overheid cost and efficiency variances, and idenidy whether each variance is Requirements 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variances. 2. Explain why the variances are favorable or unfavorable. 1. Compute the v Data table ances. he variable overhea ) or unfavorable (U) head cost and efficienc C= standard cost; SQ =