on help hone cases. During September 2024, the company produced and sold 106,000 cases and recorded the following cost data cost data) cost and efficiency variances for direct materials and direct labor Select the required formulas, compute the cost variances for direct materials and direct labor, and identify whether each variance is favorable (F) or unfavorable (U) (Abbreviations used AC = actual cost, AQ = actual quantity, FOH = fixed overhead, SC = standard cost SO = standard quam Formula Variance ce -X Data Table Standard Cost Information (AC-SC) AQ (AC-SC) SQ (AQ-SQ) AC (AQ-SQ) SC Actual FOH - Allocated FOH Actual FOH - Budgeted FOH Budgeted FOH - Allocated FOH Quantity Cost Direct Materials 2 parts $0.16 per part Direct Labor 0.02 hours 11.00 per hour Variable Manufacturing Overhead 0.02 hours 8 per hour Fixed Manufacturing Overhead ($30, 720 for static budget volume of 96,000 units and 1.920 hours, S16 per Actual Cost Information Direct Materials (209,000 parts @ $0.21 per part) (1,620 hours @ $11.10 per hour) Direct Labor $ 43,890 17,982 9,000 Variable Manufacturing Overhead Fixed Manufacturing Overhead 30,000 Print Done ny number in the input fields and then click Check Answer Clear All Check