Headstart manufactures headphone cases, During September 2024, tho company produced and sold 106,000 cases and recorded tha following cost data; (Click the ioon to view the cost data.) Read the tequirements. 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 diroct materials and direct lobor, and identify whather each vaviance is favoratie (F) ar unfavcreie (th (Abbreviations used: AC= actual cont, AQ= actual quantity; FOH= fired overhead; SC = standard cont; SQ= standard quartly) Headstart manufactures headphone cases, During September 2024, tho company produced and sold 106,000 cases and recorded tha following cost data; (Click the ioon to view the cost data.) Read the tequirements. 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 diroct materials and direct lobor, and identify whather each vaviance is favoratie (F) ar unfavcreie (th (Abbreviations used: AC= actual cont, AQ= actual quantity; FOH= fired overhead; SC = standard cont; SQ= standard quartly)