Compute the overhead variances for the$$ year: variable overhead cost$$ variance, variable overhead efficiency$$ variance, fixed overhead cost$$ variance, and fixed overhead volume variance.

Begin with the variable overhead cost and efficiency variances. Select the required$$ formulas, compute the variable overhead cost and efficiency$$ variances, and identify whether each variance is favorable$($F$)$ or unfavorable$($U$).($Abbreviations used: AC$=$ actual$$ cost; AQ$=$ actual$$ quantity; FOH$=$ fixed$$ overhead; SC$=$ standard$$ cost; SQ$=$ standard$$ quantity; VOH$=$ variable$$ overhead.$)$