er 10 HW#24 Seved 1 Norwall Company's budgeted variable manufacturing overhead cost is $1.40 per machine-hour and its budgeted fixed manufacturing overhead Is $77.350 per month. The following information is avellable for a recent month: ook a. The denominator activity of 22,750 machine-hours is used to compute the predetermined overhead rate. b. At a denominator activity of 22,750 machine hours, the company should produce 9,100 units of product c. The company's actual operating results were: Hint torences Nunber of units produced Actual machine-hours Actual variable manufacturing overhead cost Actual fixed manufacturing overhead cost 9,990 24, 190 $37, 494.50 $72,700.00 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 (le, zero variance). Input all amounts as positive values. Round your intermediate calculations and final answers to 2 decimal places.) 1 Actual variable manufacturing over head cost Actual fixed manufacturing over head cost 337, 494.50 $72,700.00 5 sints 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 "" for favorable, "U" for unfavorable, and "None" for no effect (.e, zero variance). Input att amounts as positive values, Round your Intermediate calculations and final answers to 2 decimal places.) eBook Pit References $ $ 5 1. Predetermined overhead rate Variable element Fixed element 2. Standard hours allowed for the actual production 3. Variable overhead rate variance Variable overhead eficiency variance Fixed overhead budget varance Fixed Overhead volume variance 4.80 per MH 1.40 per MH 3 40 per MH MHS