Hear Smart manufactures headphone cases. During September 2024, the company produced and sold 105,000 cases and recorded the following cost data: (Click the icon to view the cost data.) Read the tequirements. Next compute the efficiency variances. Select the required formulas, compute the efficiency variances for direct materials and direct labor, and identify whether each variance is favorabie (F) or unfavorable (U). (Abbreviations used: AC= actual cost: AQ actual quantity; FOH = floed overhend; 5C= standard cost, SQ= standard quantity.) Requirement 2. For manufacturing overhead, compute the variable ovemesd cost and efficiency variances and the fixed overhead cost and volume variances. Now compute the variable overhead cont and efficiency variances. Select the required formulas, compute the variable overhead cost and efficiency variances, and identify whether each variance is favorable (F) or untavorable (U), (Abbreviations used: AC = actual cost AQ= actual quantity; FOH = fixed overnead, SC = standard cost; SQ= standard quantity; VOH= variable overhead) Standard Cost Information