0.20 Calculating the Total Overhead Variance Standish Company manufactures consumer products and provided the following Information for the month of February: Units produced 131,000 Standard direct labor hours per unit Standard variable overhead rate (per direct labor hour) Actual variable overhead costs $88,670 Actual hours worked 26,350 Required: 1. Calculate the total variable overhead variance Favorable $3.40 2. What If actual production had been 129,600 units? How would that affect the total variable overhead varianon? Indicate what the new variance would be below. Unfavorable Calculating Standard Quantities for Actual Production Guillermo's Oil and Lube Company is a service company that offers oil changes and lubrication for automobiles and light trucks. On average, Guillermo has found that a typical oil change takes 24 minutes and 6.6 quarts of oil are used. In June, Guillermo's Oil and we had 980 all changes. Required: 1. Calculate the number of quarts of oli that should have been used (50) for 980 oil changes quarts 2. Calculate the hours of direct labor that should have been used (SH) for 980 oil changes direct labor hours 3. What If there had been 970 oil changes in June? Would the standard quantities of oil (In quarts) and of direct labor hours be higher or lower than the amounts calculated in Requirements 1 and 2? Lower What would the new standard quantities be? Round your answers to two decimal places SQ quarts SH direct labor hours