The following information relates to Logman, Inc's overhead costs for the month:

The following information relates to Longman, Inc's overhead costs for the month: (Click the icon to view the information.) Requirements 1. Compute the overhead variances for the month: 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. Requirement 1. Compute the overhead variances for the month variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume variance. Begin by selecting the formulas needed to compute the variable overhead (VOH) and fixed overhead (FOH) variances, and then Data table = = =5 = Longman allocates manufacturing overhead to production based on standard direct labor hours: Last month Longman reported the following actual results: actual variable ovethead: $10.700 actual fixed overiead $2.810 actuai production of 7/400 units at 0.25 direct labor hours per unit The standard direct lapor time is 0.4 direct labor hours per unit (1,100 static direct labor hours /2.750 static units)