Good Deal, Inc. utet a standard cost system and provides the following information Click the icon to view the information) Good Deal locates manufacturing overhead to production based on standard direct labor hours. Good Deal reported the following actual results for 2026 nchi number of units produced 1,000 actual variable overhead, $3,800, actualfoved overhead, $3,400, actual direct labor hours, 1,300 Read the requirements Requirement 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volumo variances 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 variancois favorable (F) or unfavorable (U). (Abbreviations used. AC actual cost. AQ *actual quantity, FOH-fixed overhead sc - standard cost, 50 = standard quand VCH"variable overtad) Formula VOH cost variance Data table VOH efficiency variance Variance Requirements Static budget variable overhead Static budget fixed overhead Static budget direct labor hours Static budget number of units Standard direct labor hours $2,200 $3.300 1.100 hours 580 units 2 hours por unit 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume vanances 2. Explain why the variances are favorable or unfavorable Print Done Print Dono Great Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2024, using 146,000 square feet of extruded vryf purchased at 51 15 per square foot Production required 440 direct labor hours that cost $13.00 per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $1.20 per square foot. The labor standard was 0.027 direct labor hour per fender, at a standard cost of $1200 per hour Read the requirement Begin with the cost variances Select the required formulas, compute the cost variances for direct materials and direct labor, and identify whether each variance is favorable (F) or unfavorable (U) (Abbreviations used AC actual cost: AQ acha quantity: FOHfwed overhead: SC standard Cost: 50 standard quantity) Formula Variance Direct materials cost variance Direct labor cost variance - X Requirement Compute the cost and officiency variances for direct materials and direct labor Does the pattern of variances suggest Great Fender's managers have been making trade-offs? Explain