Mason Fender uses a standard cost system and provide the following information (Click the iocn to view the information.) Mason Fender alocetes manuacturing overhead to production based on standard drect labor hours Mason Fender reponed the following actual resuts for 2018 actual number of fenders produced, 20.000; actual vaiable gverhead, $5,350, actual fixed overhead, $26,000, actual direct labor hours, 460. Read the reauirements Requirement 1. Compute the overhead variances for the year variable ovehead cost variancee, variable overhead offciency variance, fixed overhead cost variance, and fixed overhead volume variance. Begin with the variable overhead cost and eficiency variances. Select the required formulas, compute the variable overhead cost and efficiency vatances, and idensty whether each variance is favarable (F) or unfavorable (U). (You may need to simply the formula based on the data provided. Abbreviations used: AC actual cost; AQ actual quantity, FOH fixed overhead, SC standard cost; SQ standard quansty, VOH vaiable overhead.J Formula Variance VOH cost variance- VOH efficiency variance (AC-SC)x AQ (AC-SC)x SQ (AQ-SQ)x AC (AQ-SQ)x SC Actual FOH-Alocated FOH Choose from any list or enter ar Actual FOH-Budgeted FOH Bugeted FOH- Alocated FOH an click Check Answer ariance i Data Table 2,300 Static budget variable overhead $ 23,000 Static budget fixed overhead 575 hours Static budget direct labor hours 23,000 units Static budget number of units 0.025 hours per fender Standard direct labor hours Check Answer. Print Done Check Answ For Test #2 Ca... .xlsx Excel Lab #7 D....xlsx A Excel Lab #7.docx