plz help solve the things below. 6-21. help solve whole problem and make sure whole answer is visable.

Superior, Inc, uses a standard cost system and provides the following information Click the icon to view tho information) Superior allocates manufacturing overhead to production based on standard direct labor hours. Superior reported the following actual results for 2024 actual number of units produced, 1,000; actual variable overhead, $5,000; actual fixed overhead, $3,500; actual direct labor hours, 1,300 Read the requirements Data table $1,500 $2,250 Static budget variable overhead Static budget fixed overhead Static budget direct labor hours Static budget number of units Standard direct labor hours 750 hours 375 units 2 hours per unit 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. Requirement 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variances. Begin with the variable overhead cost and efficiency variances. Select the required formulas, compute the variable overhead cost and efficiency variances, and identity whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC = actual costAQ - actual quantity, FOH = fixed overhead: SC = standa cost, SQ - standard quantity, VOH - variable overhead.) Formula Variance VOH cost variance VOH efficiency variance standard qua Variable Overhead per hr. variance Actual quantity at Actual cost [Actual VOH) Fency varian Standard cost (SC) Actual quantity (AQ) Standard quantity (SQ) hours hours Variance Formula Actual VOH - (SC X AQ) X 1,200 ) = 11 $ 5,000 - $ 2.00 VOH cost variance VOH efficiency variance (AQ - SQ) SC =(1,200 2,000 )$ 2.00 Fixed Overhead 11 II Actual fixed overhead costs incurred Budgeted fixed overhead costs Allocated fixed overhead costs 11 ani Formula Variance FOH cost variance Actual FOH - Budgeted FOH Bugeted FOH - Allocated FOH FOH volume variance = $ 3,500 $ 3,300 $ 3,300= $ 6,000