Exercise 16-41 Fixed Cost Variances (LO 16-6) Lh, Inc, apples fixed overhead at the rate of $3.50 per unt. Budgeted fixed overhead was $1,328,100. This month 342,500 units were produced, and actual overhead was $1,310,000, Required: 2. What are the fixed overhead price and production volume variances for Lihue? (indicate the effect of each variance by selecting for favorable, or "U" for unfavorable. If there is no effect, do not select other option) Fixed overhead price variance Fored overhead production volume variance b. What was budgeted production for the month? (Do not round Intermediate calculations) Budapted production