Headstar manufactures headphone cases. During September 2018, the company produced and sold 100.000 cases and recorded the following costdata: Click the loon to view the cost data) Read the requirements 1 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 direct labor, and identity actual quantity: FOH food overhead: SC standard cost: SQ standard quantity) Standard Cost Information Formula Cost $ Direct materials cost variance Direct labor cost variance (AC-SC) AD (AC-SC) XAQ $10.650 U $ 249 U Direct Materials Direct Labor Variable Manufacturing Overhead Quantity 2 parts 0.02 hours 002 hours 0.15 per part 9.00 per hour 10.00 per hour Next compute the efficiency variances. Select the required formulas, compute the efficiency variances for direct materials and direct labd cost: Q actual quantity, FOH foed overhead, SC standard cost: S t andard quantity) Formula Fred Manufacturing Overtend($33320 for state budget volume of 9.000 and 1 0 hours or $17 per hour) Direct materials cancy variance Direct labor efficiency variance (A-SO) SC (AQ.50) SC $ $ 450 4.500 F F Requirement 2. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the feed overhead cost Now compute the variable overhead cost and efficiency variances Select the required formulas, compute the variable overhead cost an AC actual cost AD actual quantity, FOH ved overhead SC standard cost: S t andard quantity: VOH variable over Actual Cost Information Direct Materials Direct Labor Variable Manufacturing Overhead Fixed Manufacturing Overhead (213,000 parts@ 11.660 hours @ $ 0.20 per part) $ 8.15 per hour) 42.600 15,180 10.000 33.000 VOH Bol variance VOHficiency variance