K Peterson Awning manufactures awnings and uses a standard cost system. The company allocates overhead based on the number of direct labor hours. The following are the company's cost and standards data: (Click the icon to view the standards.) Variance VOH rate VOH efficiency Meaning Fixed manufacturing overhead: Variance FOH budget FOH volume Meaning Possible explanation Possible explanation Actual cost and operating data from the most recent month are as follows: (Click the icon to view the actual results.) All manufacturing overhead is allocated on the basis of direct labor hours. Read the requirements. Are any of the variances likely to be interrelated? The unfavorable DL efficiency variance is likely to be related to the unfavorable DM price variance. It is likely that Peterson Awning hired more qualified employees at a higher rate resulted in decreased labor efficiency This may have