Homework: Homework MB8 Good Deal, Inc uses a standard cost systems and provides the following information (Click the icon to view the information) Part 1 of 6 Points of 15 Good Deal allocates manufacturing overhead to production based on standard direct labor hours Good Deal reported the folowing actual results for 2024 actual number of ants produced 1.000 actual variable teat $2.600, actual fixed overhead $3.400 actual dred labor hours 1.500 Read the ment Requirement 1. Compute the vanable overhead cost and efficiency variances and fixed overhead cost and volume variances Begin with the variable overhead col and efficiency variances Select the required foulas compute the variable overhead cost and efficiency variances, and identify whether each s (Abbreviations ussit AC actual cost AQ actual quantity FOH ved overhead SC standard cost BQ standard quantity VOH variable head) Volt cost variance Formula Variance VO efficiency variance