1. Compute the overhead variances for the year: 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.

Great Fender uses a standard cost system and provide the following information: (Click the icon to view the information.) overhead, $5,800; actual fixed overhead, $35,000; actual direct labor hours, 370 . Read the requirements. overhead.) overhead, $5,800; actual fixed overhead, $35,000; actual direct labor hours, 370 . Read the Requirements Data table 1. Compute the overhead variances for the year: 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. Great Fender uses a standard cost system and provide the following information: (Click the icon to view the information.) overhead, $5,800; actual fixed overhead, $35,000; actual direct labor hours, 370 . Read the requirements. overhead.) overhead, $5,800; actual fixed overhead, $35,000; actual direct labor hours, 370 . Read the Requirements Data table 1. Compute the overhead variances for the year: 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