Headsound manufactures headphone cases. During September 2018, the company produced and sold 108,000 cases and recorded the following cost data: (Click the icon to view the cost data.) Read the requirements Data Table Requirement 1. Compute the cost and efficiency variances for direct materials and direct labor. Begin with the cost variances. Select the required formulas, compute the cost variances for direct materials and direc actual quantity: FOH = fixed overhead: SC = standard cost; SQ = standard quantity.) Standard Cost Information C = actual cost: AQ Quantity Cost Direct materials cost variance Formula (AC-SC) X AQ (AC-SC) x AQ Variance = $ 10,650U = 249 U Direct Materials Direct Labor 2 parts $ 0.15 per part 0.02 hours 9.00 per hour 0.02 hours 9.00 per hour Direct labor cost variance Variable Manufacturing Overhead Next compute the efficiency variances. Select the required formulas, compute the efficiency variances for direct mate cost; AQ = actual quantity: FOH = fixed overhead; SC = standard cost: SQ = standard quantity.) ptions used: AC = ac Formula Variance Fixed Manufacturing Overhead ($33,320 for static budget volume of 98,000 units and 1,960 hours, or $17 per hour) $ Direct materials efficiency variance Direct labor efficiency variance $ 42,600 Actual Cost Information Direct Materials Direct Labor Variable Manufacturing Overhead Fixed Manufacturing Overhead (213,000 parts @ S 0.20 per part) (1,660 hours @ S 9.15 per hour) (AC-SC) X AQ (AC-SC) x SQ (AQ - SQ)X AC (AQ - SQ) x SC Actual FOH - Allocated FOH Actual FOH - Budgeted FOH Budgeted FOH - Allocated FOH 15,189 8,000 25,000 Print Done