Exercise 21-19 Computation of total overhead rate and total overhead variance LO P3 Word Company expects to operate at 80% of its productive capacity of 29,000 units per month. At this planned level, the company expects to use 12,180 standard hours of direct labor. Overhead is allocated to products using a predetermined standard rate based on direct labor hours. At the 80% capacity level, the total budgeted cost includes $36,540 fixed overhead cost and $121,800 variable overhead cost, in the current month, the company incurred $169,165 actual overhead and 11,980 actual labor hours while producing 24,200 units. (Do not round intermediate calculations. Round OH costs por DL. hour" to 2 decimal places.) (1) Compute the overhead application rate for total overhead Predetermined OH rate Variable overhead costs Fixed overhead costs Total overhead costs (2) Compute the total overhead variance Actual production 24,200 units Standard DL Hours Overhead costs applied Actual results Variance Fav/Unf Variable overhead costs Foxed overhead costs Total overhead costs