Maloney Company produced 6,000 book bags in June, and actual amounts were as follows Requirements 1. Compute cost and efficiency variances for direct materials, direct labor, and variable overhead. 2. Compute the cost and volume variances for fixed overhead. (Click the icon to view the actual amounts.) Maloney's standards were as follows: (Click the icon to view the standards.) Requirement 1. Compute cost and efficiency variances for direct materials, direct labor, and variable overhead Select the formulas to calculate direct materials cost and efficiency variances, then enter the variance amounts and the total. (Abbreviations used: AC actual cost; AQ actual quantity; FOH fixed overhead; SC standard cost; SQ-standard quantity. Label each variance as favorable (F) or unfavorable (U). Enter a "O" for any zero balances. For any $O variances, leave the Favorable (FyUnfavorable (U) input blank.) Formula Variance Direct materials cost variance Direct materials efficiency variance Total direct materials variance Next, select the formulas to calculate direct labor cost and efficiency variances, then enter the variance amounts and the total. (Abbreviations used: AC-actual cost:, AQ-actual quantity; FOH standard cost; SQ standard quantity. Label each variance as favorable (F) or unfavorable (U).) fixed overhead; SC Formula Variance Direct labor cost variance Choose from any list or enter any number in the input fields and then continue to the next question. Maloney Company produced 6,000 book bags in June, and actual amounts were as follows Requirements 1. Compute cost and efficiency variances for direct materials, direct labor, and variable overhead. 2. Compute the cost and volume variances for fixed overhead. (Click the icon to view the actual amounts.) Maloney's standards were as follows: (Click the icon to view the standards.) Requirement 1. Compute cost and efficiency variances for direct materials, direct labor, and variable overhead Select the formulas to calculate direct materials cost and efficiency variances, then enter the variance amounts and the total. (Abbreviations used: AC actual cost; AQ actual quantity; FOH fixed overhead; SC standard cost; SQ-standard quantity. Label each variance as favorable (F) or unfavorable (U). Enter a "O" for any zero balances. For any $O variances, leave the Favorable (FyUnfavorable (U) input blank.) Formula Variance Direct materials cost variance Direct materials efficiency variance Total direct materials variance Next, select the formulas to calculate direct labor cost and efficiency variances, then enter the variance amounts and the total. (Abbreviations used: AC-actual cost:, AQ-actual quantity; FOH standard cost; SQ standard quantity. Label each variance as favorable (F) or unfavorable (U).) fixed overhead; SC Formula Variance Direct labor cost variance Choose from any list or enter any number in the input fields and then continue to the next