Data table Requirements 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variances. 2. Explain why the variances are favorable or unfavorable. Deluxe, Inc. uses a standard cost system and provides the following information. (Click the icon to view the information.) overhead, $3,400; actual direct labor hours, 1,900. Read the requirements. Requirement 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variances. used: AC= actual cost; AQ = actual quantity; FOH= fixed overhead; SC= standard cost; SQ = standard quantity; VOH= variable overhead. ) AC= actual cost; AQ= actual quantity; FOH= fixed overhead; SC= standard cost; SQ= standard quantity.) Requirement 2. Explain why the variances are favorable or unfavorable. The variable overhead cost variance is because the actual cost per direct labor hour was than the standard cost per direct labor hour. The fixed overhead cost variance is because the total fixed overhead cost was than the amount budgeted for total fixed overhead. The fixed overhead volume variance is because total fixed overhead cost allocated to units was than the total budgeted fixed overhead cost