Quality, Inc. uses a standard cost system and provides the following information. (Click the icon to view the information.) Quality allocates manufacturing overhead to production based on standard direct labor hours. Quality reported the following actual results for 2024: actual number of units produced, 1,000; actual variable overhead, $2,500; actual fixed overhead, $2,600; actual direct labor hours, 1,300. Requirements 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variances. 2. Explain why the variances are favorable or unfavorable. Data table