a. The denominator activity of 18,480 machine-hours is used to compute the predetermined overhead rate b. At a denominator activity of 18,480 machine-hours, the company should produce 6,600 units of product. c. The company's actual operating results were 7,550 19,630 $41,223 Number of units produced Actual machine-hours Actual variable manufacturing overhead cost Actual fixed manufacturing overhead cost $35,500 Required 1. Compute the predetermined overhead rate and break it down into variable and fixed cost elements. (Round your answers to 2 decimal places.) 2. Compute the standard hours allowed for the actual production. 3. Compute the variable overhead rate and efficiency variances and the fixed overhead budget and volume variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Round your intermediate calculations and final answers to 2 decimal places.) &Answer is complete but not entirely correct. Predetermined overhead rate Variable element Fixed element 3.90 per MH 1.95per MH 195per MH 2. Standard hours allowed for the actual production 3.Variable overhead rate variance 21,140MHs 2,944.50U $2,94450 F 536.00 YF 536.00X F Variable overhead efficiency variance Fixed overhead budget variance Fixed overhead volume variance