Good Deal, Inc. uses a standard cost system and provides the following information.

$($Click the icon to view the information$)$ labor hours, $1,800$

Read the requirements

Requirement $1.$ Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variances actual quantity, FOH$=$ fixed overhead; $SC=$ standard cost, $SQ=$ standard quantity, VOH$=$ variable overhead $)$

$\backslash$table$[[,$Formula,Variance,$],[VOH$ cost variance,$=,,],[$VOH efficiency variance,$=,=,]]$

Requirements

Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variances.

Explain why the variances are favorable or unfavorable.

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