Grand Fender also uses a standard cost system and provides that the static budget variable overhead is $ 5,630, the static budget fixed overhead is $...

Grand Fender also uses a standard cost system and provides that the static budget variable overhead is $ 5,630, the static budget fixed overhead is $ 22,520, the static budget direct labor are 563 hours, the static budget is 21,000 units, and the standard direct labor hours is 0.026 hours per fender.Grand Fender reported that the actual number of fenders produced were 20,000; actual variable overhead, $5,200; actual fixed overhead, $24,000; actual direct labor hours, 480.

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.