Data table Tallman allocates manufacturing overhead to production based on standard direct labor hours. Last month, Tallman reported the following actual results: actual variable overhead, $10,900; actual fixed overhead, $2,840; actual production of 7,400 units at 0.40 direct labor hours per unit. The standard direct labor time is 0.5 direct labor hours per unit (1,200 static direct labor hours / 2,400 static units). The following information relates to Tallman, Inc.'s overhead costs for the month: (Click the icon to view the information.) Requirements 1. Compute the overhead variances for the month: 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. Requirement 1. Compute the overhead variances for the month: variable overhead cost variance, variable overheac efficiency variance, fixed overhead cost variance, and fixed overhead volume variance. Begin by selecting the formulas needed to compute the variable overhead (VOH) and fixed overhead (FOH) varianc and then compute each variance amount