8 Exercise 23-20 Computation of volume and controllable overhead variances LO P3 World Company expects to operate at 80% of its productive expects to use 23,500 standard hours of direct labor. Overhead is allocated to products using a predetermined standard rate of 0.500 direct labor hours per unit. At the 80% capacity level, the total budgeted cost includes $68150 fixed overhead cost and $279,650 variable overhead cost. In the current month, the company incurred $352,000 actual overhead and 20,500 actual labor hours while producing 44.000 units. capacity of 58,750 units per month. At this planned level, the company (1) Compute the overhead volume variance (2) Compute the overhead controllable variance. Complete this question by entering your answers in the tabs below Compute the overhead controllable variance. Classify as favorable or unfavorable S 352,000 Total actual overhead Flexible budget overhead Variable Fixed Total 68.150 82.133 favorable Overhead controllable variance