Exercise 15-12 Flint Company produces one product, a putter called GO-Putter. Flint 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 this putter is 125,000 units per year. The total budgeted overhead at normal capacity is $1,062,500 comprised of $437,500 of variable costs and $625,000 of fixed costs. Flint applies overhead on the basis of direct labor hours. During the current year, Flint produced 73,100 putters, worked 86,700 direct labor hours, and incurred variable overhead costs of $186,405 and fixed overhead costs of $562,350. Compute the predetermined variable overhead rate and the predetermined fixed overhead rate. (Round answers to 2 decimal places, e.g. 2.75.) Variable Fixed Predetermined Overhead Rate LINK TO TEXT VIDEO: APPLIED SKILLS Compute the applied overhead for Flint for the year. Overhead Applied LINK TO TEXT VIDEO APPLIED SKILLS Compute the total overhead variance. Total Overhead Variance $ Unfavorable Favorable Neither favorable nor unfavorable