Soundset manufactures headphone cases. During September 2024 , the company produced and sold 106,000 cases and recorded the following cost data: (Click the icon to view the cost data.) Read the requirements. Data table Requicements 1. Compute the cost and efficiency variances for direct materials and direct labor. 2. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. 3. Soundset's management used better quality materials during September. Discuss the trade-off between the two direct material variances. Requirement 1. Compute the cost and efficiency variances for direct materials and direct labor. SC= standard cost; SQ= standard quantity.) fixed overhead; SC= standard cost; SQ= standard quantity.) \begin{tabular}{ll|l|} & Formula & Variance \\ \hline Direct materials efficiency variance & = & = \\ Direct labor efficiency variance & = & \\ & & \end{tabular} Requirement 2. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. actual quantity; FOH = fixed overhead; SC = standard cost; SQ = standard quantity; VOH= variable overhead.) FOH = fixed overhead; SC= standard cost; SQ= standard quantity.) \begin{tabular}{ll|l|} & Formula & \multicolumn{1}{c|}{ Variance } \\ \hline FOH cost variance & = & \\ FOH volume variance & = & \end{tabular}