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E9-14 (Algo) Calculating Fixed Manufacturing Overhead Spending, Volume Varlances [LO 9-S1] Lamp Light Limited (LLL) manufoctures lampshades. It applies variable overhead on the basis of direct labor hours. Informistion from LL's standard cost card follows: During August, LLL had the following actual results: Lamp Light Limited (LLL) calculates a fixed overheod rate based on budgeted fixed overhead of $45,400 and budgeted production of 22,700 units. Actual results were as follows: Required: 1. Colculate the fixed overhead rate based on budgeted production for LLL. 2. Calculate the flxed overhead spending variance for LLL. 3. Calculate the fixed overhead volume varlance for LLL. 4. Calculate the over-or underapplied foxed overhead for LLL. Complete this question bv enterina vour answers in the tabs below. Calculate the fixed overhead rate based on budgeted production for LLL. (Round you 2. Calculate the fixed overhead spending variance for LLL. (Indicate the effect of each variance by selecting "F+ for have "U" for unfavorable, and "None" for no effect (i.e., zero varlance).) 3. Calculate the fixed overhead volume variance for LL. (Indicate the effect of each variance by selccting "F" for fovarn "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round Fixed overhead rate to 2 decimal alacex.) Calculate the over- or underapplied fixed overhead for LL E9-14 (Algo) Calculating Fixed Manufacturing Overhead Spending, Volume Varlances [LO 9-S1] Lamp Light Limited (LLL) manufoctures lampshades. It applies variable overhead on the basis of direct labor hours. Informistion from LL's standard cost card follows: During August, LLL had the following actual results: Lamp Light Limited (LLL) calculates a fixed overheod rate based on budgeted fixed overhead of $45,400 and budgeted production of 22,700 units. Actual results were as follows: Required: 1. Colculate the fixed overhead rate based on budgeted production for LLL. 2. Calculate the flxed overhead spending variance for LLL. 3. Calculate the fixed overhead volume varlance for LLL. 4. Calculate the over-or underapplied foxed overhead for LLL. Complete this question bv enterina vour answers in the tabs below. Calculate the fixed overhead rate based on budgeted production for LLL. (Round you 2. Calculate the fixed overhead spending variance for LLL. (Indicate the effect of each variance by selecting "F+ for have "U" for unfavorable, and "None" for no effect (i.e., zero varlance).) 3. Calculate the fixed overhead volume variance for LL. (Indicate the effect of each variance by selccting "F" for fovarn "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round Fixed overhead rate to 2 decimal alacex.) Calculate the over- or underapplied fixed overhead for LL