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Haines Manufacturing Company (HMC) bases its fixed overhead rate on practical capacity of 32,000 units per year. Budgeted and actual results for the most recent year follow: Fixed manufacturing overhead Number of units produced Budgeted Actual $672,000 $630,000 22,000 24,000 Required: 1. Calculate the fixed overhead rate based on practical capacity for HMC. 2. Calculate the fixed overhead spending variance for HMC. 3. Calculate the expected (planned) capacity variance for HMC. 4. Calculate the unexpected (unplanned) capacity variance for HMC. 5. Calculate the total over- or underapplied fixed manufacturing overhead for HMC. Complete this question by entering your answers in the tabs below. Reg 1 Req 2 to 5 Calculate the fixed overhead rate based on practical capacity for HMC. (Round your final answer to 2 decimal places.) Fixed Overhead Rate per unit Req 1 Req 2 to 5 2. Calculate the fixed overhead spending variance for HMC. 3. Calculate the expected (planned) capacity variance for HMC. 4. Calculate the unexpected (unplanned) capacity variance for HMC. 5. Calculate the total over- or underapplied fixed manufacturing overhead for HMC. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Show less A 2. Fixed Overhead Spending Variance 3. Expected (Planned) Capacity Variance 4. Unexpected (Unplanned) Capacity Variance 5. Fixed Overhead