Check my we The following information applies to the questions displayed below! Sedona Company set the following standard costs for one unit of its product for this year Direct material (15 lbs. @ $3.4e per lb.) Direct labor (10 hrs. $9.70 per hr.) Variable overhead (10 hrs. $4.90 per hr.) Fixed overhead (10 hrs. $2.00 per hr) Total standard cost 5.51.60 97.00 49.69 20.00 $217.00 The $6.90 (54.90 - $2.00) total overhead rate per direct labor hour is based on an expected operating level equal to 70% of the factory's capacity of 59,000 units per month. The following monthly flexible budget information is also available. Operating levels of capacity) Flexible Hudget 65% 700 75% Budgeted output (units) 78,350 41.380 44,250 Budgeted labor (standard hours) 383,500 413,000 442,580 Budgeted overhead (dollars) Variable overhead $1,879,150 $2,023,700 52,168,250 Fixed overhead 826.000 826,000 B26,000 Total overhead $2,705,150 52,849,700 52,994,250 During the current month, the company operated at 65% of capacity, employees worked 365,000 hours, and the following actual overhead costs were incurred. Variable overhead costs Fixed overhead costs Total overhead costs $1,816,000 899,050 $2.715,050 (1) Compute the predetermined overhead application rate per hour for total overhead variable overhead, and fixed overhead Predetermined OH Rate Variable overhead posts Fixed overhead costs Total overhead costs (2) Compute the total variable and total fixed overhead variances and classily each as favorable or unfavorable, indicate the effect of each variance by Gelecting for favorable, unfavorable and no variance. Round "Rale per hour answers to 2 decimal places) At 65% of Operating capacity Standard OL Overhead Conta Actual Rusuts Variance Fav./tint Hours Applied Variable overhead costs Flued overhead costs Total overhead costs