9 Required information (The following information applies to the questions displayed below. Part 2 of 2 Sedona Company set the following standard costs for one unit of its product for this year. 3 points Direct material (30 Ibs. $2.60 per Ib.) Direct labor (20 hrs. @ $4.70 per hr.) Variable overhead (20 hrs. @ $2.60 per hr.) Fixed overhead (20 hrs. $1.20 per hr.) Total standard cost $ 78.00 94.00 52.00 24.00 $248.00 eBook The $3.80 ($2.60 + $1.20) total overhead rate per direct labor hour is based on an expected operating level equal to 60% of the factory's capacity of 61,000 units per month. The following monthly flexible budget information is also available. Hint Operating Levels (% of capacity) 558 608 658 36,600 39,650 671,000 732,000 793,000 33,550 Print Flexible Budget Budgeted output (units) Budgeted labor (standard hours) Budgeted overhead (dollars) Variable overhead Fixed overhead Total overhead $1,744,600 878,400 $ 2,623,000 $1,903,200 878,400 $ 2,781,600 $2,061,800 878,400 $2,940,200 During the current month, the company operated at 55% of capacity, employees worked 652,000 hours, and the following actual overhead costs were incurred. Variable overhead costs Fixed overhead costs Total overhead costs $1,714,000 918,000 $2,632,000 = AH = Actual Hours SH - Standard Hours AVR = Actual Variable Rate SVR = Standard Variable Rate 1. Compute the variable overhead spending and efficiency variances. 2. Compute the fixed overhead spending and volume variances and classify each as favorable or unfavorable. 3. Compute the controllable variance