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 varlasces for the month variable overhead cost variance variable overhead aiciency variance, fired over 2. Explain why the variances are favorable or unfavorable Data table Requirement 1. Compute the overhead variances for the month variable overhead cost valance, variable overhead eficiency varianos, Begin by selecting the formulas needed to compute the variable overhead (VOH) and fed overhead (FO) variances and then compu (Actual oest Standard cost) Actual hours (Actual hours Standard hours allowed) Standard cost Actual overhead Budgeted overhead Budgeted overhead Allocated overhead VOI ecency Variance FOH cost varand FO volume variance Static budget variable overhead Static budget fixed ovobead 7000 2300 Static budget direct labor hours Static budget number of unit 1300 $200 Longman allocates manufacturing overhead to producion based on standard dect labor hours. Last north, Longman reported th obowing actual results actual variate uvered $10.000 xed overhead $2,770, wal production of 7000 units.30 drect labor hours per unit. The standed direct labur time 0.25 dred labor hours per un 1300 aic drect labor hour/5.200 state unis this Demodors example Get more help- Print Done Clear all Check answer