The following information relates to Jackson, Incis overhend costs for the montr: (Click the ioon to view the inflormation) Requirements variance: 2. Explain why the variances am favorable or unfiviorabla Requirement 1. Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, frod overtiead cost variance, and fived overhead volume vanance Begin by selecting the formulas needed to compute the variable overhead (VOH) and fixed overthend (FOH) variances, and then compute bath variance amount. Data table Jackson allocates manulacturing overhead to production based on standard direct labor hours. Last month, Jackson reportod the following actual results: actual variable overhead, $10.700; actual fixed ovethead, $2,820; actual production of 7,100 units at 0.20 direct laboe hours por unit. The standard direct labor time is 0.25 direct labor hours per unit (1,000 static drect labor hours 14,000 The following information relates to Jackson, Incis overhend costs for the montr: (Click the ioon to view the inflormation) Requirements variance: 2. Explain why the variances am favorable or unfiviorabla Requirement 1. Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, frod overtiead cost variance, and fived overhead volume vanance Begin by selecting the formulas needed to compute the variable overhead (VOH) and fixed overthend (FOH) variances, and then compute bath variance amount. Data table Jackson allocates manulacturing overhead to production based on standard direct labor hours. Last month, Jackson reportod the following actual results: actual variable overhead, $10.700; actual fixed ovethead, $2,820; actual production of 7,100 units at 0.20 direct laboe hours por unit. The standard direct labor time is 0.25 direct labor hours per unit (1,000 static drect labor hours 14,000