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: 13. Calculate the variable overhead cost variance. Select the formula, then enter the amounts and compute the cost variance for variable overhead (VOH) and identify whether the variance is favorable (F) or unfavorable (U). VOH Cost Variance x 14. Calculate the variable overhead efficiency variance. Select the formula, then enter the amounts and compute the efficiency variance for variable overhead and identify whether the variance is favorable (F) or unfavorable (U). VOH Efficiency Variance x 15. Calculate the total variable overhead variance The total variable overhead variance is x 16. Calculate the fixed overhead cost variance Select the formula, then enter the amounts and compute the cost variance for fixed 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 fixed overhead allocated to production. (Abbreviations used: SQ = standard quantity, AO = 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