Exercise 23-27 Computing total variable and fixed overhesd veriances P5 Sedona Company set the following standard costs for one unit of its product for this year. The $5.60($4.00+$1.60) total overhead rate per direct labor hour (DLH) is based on a predicted activity level of 37,500 units, which is 75% of the factory's capacity of 50,000 units per month. The following monthly flexible budget information is available. During the current month, the company operated at 70% of capacity, direct labor of 340,000 hours were used, and the following actual overhead costs were incurred. 1. Compute the total variable overhead variance, and identify it as favorable or unfavorable. 2. Compute the total fixed overhead variance, and identify it as favorable or unfavorable. FINAL PAGES Chapter 23 Flexible Budgets and Standard Costs 887 Refer to the information from Exercise 23-27. Compute the following. 1. Variable overhead spending and efficiency variances. 2. Fixed overhead spending and volume variances. 3. Controllable variance. Exercise 23-284 Detaled overhead variances P5 Check (1) Variable overheact Spending $15,000 U