A summary of Coastal Equipment$$s flexible budget for manufacturing overhead follows:

Cost

Formula Direct Labour$-$Hours $($DLHs$)$

Overhead Costs $($per direct labour$-$hour$)4,4004,9005,400$

Variable cost $ $2\mathrm{.}20$ $ $9,680$ $ $10,780$ $ $11,880$

Fixed cost $54,56054,56054,560$

Total overhead cost $ $64,240$ $ $65,340$ $ $66,440$

The following information is available for a recent period:

The denominator activity of $4,400$ DLHs was chosen to compute the predetermined overhead rate.

At the $4,400$ standard DLH level of activity, the company should produce $2,200$ units of product.

The company$$s actual operating results were as follows:

Number of units produced $2,350$

Actual DLHs $4,400$

Actual variable overhead costs $ $9,890$

Actual fixed overhead costs $ $54,900$

Required:

Compute the predetermined overhead rate and break it down into variable and fixed cost elements.

Note: Round your answers to $2$ decimal places.

What were the standard hours allowed for the year$$s actual output?

Note: Do not round intermediate calculations.

Compute the variable overhead spending and efficiency variances and the fixed overhead budget and volume variances.

Note: Do not round intermediate calculations. Round your answers to $2$ decimal places. Indicate the effect of each variance by selecting $"$F$"$ for favourable, $"$U$"$ for unfavourable, and "None" for no effect $($i$.$e$.,$ zero variance$).$