Exercise 10A-1 (Algo) Fixed Overhead Varlances (LO10-4) Primera Corporation has a standard cost system in which it applies overhead to products based on the standard direct labor-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Total bodgeted fixed overhead out for the year het xed overhead cont for the yene Budgeted direct labor-hours (denominator level of activity) Actual direct labor-hours Standard direct labor-bours allowed for the actual cutput 5487,500 $180,000 65,000 66,000 63,000 Required: 1. Compute the fixed portion of the predetermined overhead rote for the year. (Round Fixed portion of the predetermined overhead rate to 2 decimal places.) 2. Compute the fixed overhead budget variance and volume variance. (Indicate the effect of ench variance by selecting "P" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance.). Input all amounts as positive values.) por DUH Fored portion of the predetermined overhead ruta 2. Budget variance Volume variance