Quality Fender uses a standard cost system and provide the following information:

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Requirement $1.$ Compute the overhead variances for the year: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume variance.

standard cost; $SQ=$ standard quantity; VOH$=$ variable overhead.$)$

Data table

Requirements

Compute the overhead variances for the year: variable overhead

cost variance, variable overhead efficiency variance, fixed overhead

cost variance, and fixed overhead volume variance.

Explain why the variances are favorable or unfavorable.

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