Exercise 24-9 Computation of volume and controllable overhead variances World Company expects to operate at 80% of its productive capacity of 50,000 units per month). /: this plantsed level, the company expects to use 25,000 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 $50,000 fixed overhead cost and $275,000 variable overhead cost. In the current month, the company incurred $305,000 actual overhead and 22,000 actual labor hours while producing 35,000 units. Compute the (1) total overhead variance, (2) overhead volume variance, and (3) overhead controllable variance. Check (3) $14,375 U