Exercise 23-17 Computation of total variable and flxed overhead variances Lo P3 Sedona company set the folowing standad costs for one uni or its product for 2015 42.00 Direct material G20 lbs $2.10 per lb) 88.00 Direct labor (D hans. sa 80 per hr) Factory variable overhead (10 hrs $400 per hr) 18.00 Factory fixed overhead (10 hrs. S1.80 per hr) 188 00 The $580 ($4 00 $1,80) total overhead rate per direct labor hour is based on an expected operating evel equal to 70% of the factory's capacity of 70,000 unts per month. The folowing monthly nextde tudget information is also available operating Levels of capacity)