Tipton Company manufactures shirts. During June, Tipton made 1,200 shirts but had budgeted production at 1,400 shirts. Tipton gathered the following additional data: iClick on the icon to view the data.) Read the requiremenits 13. Calculate the variable overhead cost variance. Select the formula, then enter the amounts and compute the oost variance for variable overhead NOH and identify whether the variance is favorable F or unfavorable U). VOH Cost Variance 14. Calculate the variable overhead efficiency variance. Select the formula, then enter the amounts and compute the efficiency varianceor variable overhead and identify whether the variance is favorable (F) or unfavorable (U) VOH Efficiency Variance 15. Calculate the total variable overhead variance The total variable owerhead variance is 16. Calculate the fixed overhead cost variance Select the formula, then enter the amounts and compute the cost variance for foxed overhead (FOH) and identify whether the variance is favorable (F) or unfavorable (U) Fixed Overhead Cost Variance 17. Calculate the fixed overhead volume variance First, select the formula, then enter the amounts and compute the med overhead alocated to production. (Abbreviations used: SQ = standard quantity A= actual output.) - Overhead allocated to production Now, select the formula, then enter the amounts and compute the fixed overhead volume variance and identify whether the variance is favorable (F) or unfavorable (U). Fixed Overhead Volume Variance 18. Calculate the total fixed overhead variance The totall fixed overhead variance is 1 Data Table @ Requirements Calculate the following variances: 13. Variable overhead cost variance 14. Variable overhead efficiency variance 17. Fixed overhead volume variance 15. Total variable overhead variance Variable overhead cost standard Direct labor efficiency standard Actual amount of direct labor hours Actual cost of variable overhead Fixed overhead cost standard Budgeted foxed overhead Actual cost of foxed overhead 50.50 per DLHr 2.00 DLHr per shirt 2,520 DLHr $1,512 50.25 per DLHr S700 5750 16. Fixed overhead cost variance 18. Total fixed overhead variance Print Done