Superior Fender uses a standard cost system and provide the following information: E: (Click the icon to view the information.) Superior Fender allocates manufacturing overhead to production based on standard direct labor hours. Superior Fender reported the following actual results for 2018: actual number of fenders produced, 20,000; actual variable overhead, $4,960; actual fixed overhead, $35,000; actual direct labor hours, 370. Data Table Requirements $2,300 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. 2. Explain why the variances are favorable or unfavorable. $23,000 Static budget variable overhead Static budget fixed overhead Static budget direct labor hours Static budget number of units Standard direct labor hours 575 hours 23,000 units 0.025 hours per fender Print Done