Requirements 1 Compute the overhead Varices for the month variable overhead cost variance, variable overhead officiency variance, fed overhead cost and 2. Explain why the warances are favorable or unfavorable $ Static budget overhead Static budget fixed overhead Static budget direct labor hours S budget number of units 8.000 3.000 1000 hours 500 unts Requirement 1. Compute the overhead varances for the month variable overhead cost verance Variable overhead efficiency variance, fixed overheid Begin by selecting the formulas needed to compute the variable overhead (VOH) and fixed overhead (FOH) vanances, and then compute each vanand (Actual cost - Standard cost) Actual hours VOH costvarance (Actual hours Standous wed) x Starded cost VOH cnc variance Actual overhead Budgeted overhead TOH Conce Bulled overhead-Alocated overhead FOH volume vanance Brook afocates manufacturing overhead to production based on standard director hours Last month Brock reported the following actual results actual variable overhead $10.500 actual Foed overhead, $2800, actual production of 7.200 units 025 direct labor hours per unit the standard direct labermea O2 dractor hous per unit ( det behours 15.000 statut Requirements 1 Compute the overhead Varices for the month variable overhead cost variance, variable overhead officiency variance, fed overhead cost and 2. Explain why the warances are favorable or unfavorable $ Static budget overhead Static budget fixed overhead Static budget direct labor hours S budget number of units 8.000 3.000 1000 hours 500 unts Requirement 1. Compute the overhead varances for the month variable overhead cost verance Variable overhead efficiency variance, fixed overheid Begin by selecting the formulas needed to compute the variable overhead (VOH) and fixed overhead (FOH) vanances, and then compute each vanand (Actual cost - Standard cost) Actual hours VOH costvarance (Actual hours Standous wed) x Starded cost VOH cnc variance Actual overhead Budgeted overhead TOH Conce Bulled overhead-Alocated overhead FOH volume vanance Brook afocates manufacturing overhead to production based on standard director hours Last month Brock reported the following actual results actual variable overhead $10.500 actual Foed overhead, $2800, actual production of 7.200 units 025 direct labor hours per unit the standard direct labermea O2 dractor hous per unit ( det behours 15.000 statut