Exercise 12.29 a Your answer is partially correct. Try again. ackson Company's overhead rate was based on estimates of $180,000 for overhead costs and 18,000 direct labour hours. Jackson's standards allow 2 hours of direct labour per unit produced Production in May was 800 units, and actual overhead incurred in May was $19,000. The overhead budgeted for 1,600 standard direct labour hours is $15,700 ($4,500 fixed and11,200 variable) (a) Calculate the total, budget, and volume variances for overhead 3,300 IT Unfavourable Total overhead variance 304E Unfavourable Overhead budget variance 160,884 Favourable Overhead volume variance