Quality, Inc. uses a standard cost system and provides the following information: View the information. Quality, Inc. allocates manufacturing overhead to production based on standard direct labor hours. Quality, Inc. reported the following actual results for 2025: actual number of units produced, 1,000; actual variable overhead, $5,000; actual fixed overhead, $3,200; actual direct labor hours, 1,700. Read the requirements. Requirement 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variances. Begin with the variable overhead cost and efficiency variances. Select the required formulas, compute the variable overhead cost and efficiency variances. (Abbreviations used: AC = actual cost; AQ = actual quantity; FOH = fixed overhead; SC = standard cost; SQA = standard quantity allowed; VOH = variable overhead. Label the variance as favorable (F) or unfavorable (U), in the input field after the amount you enter.) VOH cost variance VOH efficiency variance Formula Variance