Part 2 of 6 Question 6 Score 94 of 5 points The following information relates to Longman, Ines overhead costs for the month Ceck the car to view the information Requirements 1. Compute the overhead variances for the month variable overhead cont variance, variable overhead eficiency variance. Read overhead cost variance, and tyed aveshwad volume variance Explain why the variances are favorable or unfavorable 2. Requirement 1. Compute the overhead variances for the month variable overheat cont varianca, variable overhead efficiency valance, fived ovuthead cost variance, and tired overheat volume variance Begin by selecting the formulas needed to compute the variable overhead (VOH) and loved overhead (FOH) variances, and then compte each variance amount (Actual cost Standard cost) Actual hours VOH cost variance Actual board Standard hours allowed Standard cost VOH officiency variance Actual overhead.Budited overhead FOH cost variance Budgeted overhead-Allocated overhead FOH volume variance 1 Data Table Static budget variable overhead $ 7.500 Static budget fixed overhead 5 3.000 Static budget direct labor houts 1.500 hours Static budget number of units 7 500 units Longman allocates manufacturing overhead to production based on standard direct labor hours last month Longman reported the following actual results actual variable overhead 510.000 actual foed overhead, 52 840, actual production of 6,800 units at 0.25 direct labor hours per unit. The standard direct labor time is 02 direct labor hours per unit (1.500 static direct labor hours/7.500 static units Print Done