Cullumber Company produces one product, a putter called GO-Putter. Cullumber uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for 125,000 units per year. The total budgeted overhead at normal capacity is $875,000 comprised of $375,000 of variable costs and $500,000 of fixed costs. Cullumber applies overhead on the basis of direct labor hours. During the current year, Cullumber produced 75,800 putters, worked 93,500 direct labor hours, and incurred variable overhead costs of $259,180 and fixed overhead costs of $318,600. Compute the predetermined variable overhead rate and the predetermined fixed overhead rate. Variable Fixed Predetermined Overhead Rate \$ $ Compute the applied overhead for Byrd for the year. Overhead Applied \$ Compute the total overhead variance. Total Overhead Variance \$ FavorableUnfavorableNeither favorable nor unfavorable