Now compute the variable 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$).($Round your answers to the nearest whole dollar. Abbreviations$$ used: AC$=$ actual$$ cost; AQ$=$ actual$$ quantity; FOH$=$ fixed$$ overhead; SC$=$ standard$$ cost; SQ$=$ standard$$ quantity; VOH$=$ variable$$ overhead.$)$

Formula

Variance

VOH cost variance

$=$

$($AC $-$ SC$)\backslash$times AQ

$=$

$$

VOH efficiency variance

$=$

$($AQ $-$ SQ$)\backslash$times SC

$=$