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The following information relates to Brook, 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 - X VOH cost variance VOH efficiency variance 1I FOH cost variance $ 7,500 FOH volume variance 11 Static budget variable overhead Static budget fixed overhead $ 3,000 Requirement 2. Explain why the variances are favorable or unfavorable. Static budget direct labor hours 1,500 hours The variable overhead cost variance is because Brook actually spent than budgeted. Static budget number of units 7,500 units The variable overhead efficiency variance is because the actual hours used was than budgeted. Brook allocates manufacturing overhead to production based on standard direct labor hours. Last month, Brook reported the following actual results: actual variable overhead, $10,900; actual The fixed overhead cost variance is because Brook actually spent than budgeted for fixed overhead. fixed overhead, $2,760; actual production of 7,400 units at 0.40 direct labor hours per unit. The standard direct labor time is 0.2 The fixed overhead volume variance is because Brook allocated overhead to jobs than the budgeted fixed overhead amount. direct labor hours per unit (1,500 static direct labor hours / 7,500 static units). Choose from any list or enter any number in the input fields and then continue to the next question. Print Done