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S23-10 (similar to) * Question Help The following information relates to Jackson, Inc.'s overhead costs for the month: (Click the icon to view the information.) Requirements 1. Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume variance. 2. Explain why the variances are favorable or unfavorable. Requirement 1. Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume variance. Begin by selecting the formulas needed to compute the variable overhead (VOH) and fixed overhead (FOH) variances, and then compute each variance amount i Data Table = VOH cost variance J = VOH efficiency variance J = FOH cost variance = FOH volume variance $ $ 7,700 3,300 Static budget variable overhead Static budget fixed overhead Static budget direct labor hours Static budget number of units 1,100 hours 2.750 units Choose from any drop-down list and then click Check Answer. Jackson allocates manufacturing overhead to production based on standard direct labor hours. Last month, Jackson reported the following actual results: actual variable overhead, $10,500; actual fixed overhead, $2,840, actual production of 7,100 units at 0.25 direct labor hours per unit. The standard direct labor time is 0.4 direct labor hours per unit (1,100 static direct labor hours / 2,750 static units). 5 parts Clear All remaining