Managerial Accounting Acct1212-W07-28217-SU-2019 Homework: Ch 23 Probl core: 14 of 7 pts 1 of 1 (1 complete)v KE23-20 (book/static) Mason Fender uses a standard cost system and provide the following information: (Click the icon to viaw the information.) 2018: actual number of fenders produced, 20,000, actual variable overhead, $5.350; actual fixed overhead, $26,000, ac Mason Fender allocates manufacturing overhead to production based on standard direct labor hours. Mason Fender reported the following actual results Read the requirements Requirement 1. Compute the overhead variances r the year: variable overhead cost variance, variable overhead efficiancy variance, fixed overhead cost variance, and fixed overhead volume variance begin wiin the vanable overhead cost and efficiency variances Select the required formulas, compute the variable overhead cost and efficiency variances, and identify whether each variance is favorable (F) or unfavorable (U) (Yau may need to simply t cost e formula based an the andard cost SC = actual quantity overhead; SC standard quantity; VOH variable overhead.) Formula Variance (AC-SC) x AQ VOH cost variance 3,510 U -X Data Table VOH efficiency variance (AQ SQ) x SC 160 F Now compute the fixed overhead cost and volume variances. Select the required formulas, compute the foxed overhead cost a standard quantity.) nfavorable (U). (Abbreviations used: AC actual cost; AQ = actual quant s 2300 Static budget variable overhead $ 23,000 Formula Variance Static budget fixed overhead FOH cost variance Stalic budget direct labor hours 575 hours FOH volume variance Static budget nurnber of units 23.000 units 0.025 hours ner fander Standard direct labor hours Print Done Choose from any list or enter any number in the input fields and then click Check