G Scott Company's flexibly budget for manufacturing overhead (in condensed form) is provided in the following tables Variable overhead Food overhead Tocal overhead costs Direct Labour Hours 40,000 50,000 60,000 584,000 $105,000 $126,000 180,000 180,000 180.000 $264,000 $285.000 $306.000 a) The following information is available for a recent period: The denominator activity level was 60,000 machine hours. b) The company should produce 20,000 units of product at the denominator level of activity. c) The company's actual operating results were as follows: Number of units produced 17,500 Actual direct labour-hours 49,000 Actual variable overhead costs $105,350 Actual fixed overhead costs $183,500 Required ) Calculate the predetermined overhead rate and break it down into variable and fixed overhead cost elements. (3 marks) Supporting calculations Predetermined overhead rate Variable portion of the overhead rate Fixed portion of the overhead rate b) Calculate the standard hours allowed for the production in the recent period. (2 marks) G Scott Company's flexibly budget for manufacturing overhead (in condensed form) is provided in the following tables Variable overhead Food overhead Tocal overhead costs Direct Labour Hours 40,000 50,000 60,000 584,000 $105,000 $126,000 180,000 180,000 180.000 $264,000 $285.000 $306.000 a) The following information is available for a recent period: The denominator activity level was 60,000 machine hours. b) The company should produce 20,000 units of product at the denominator level of activity. c) The company's actual operating results were as follows: Number of units produced 17,500 Actual direct labour-hours 49,000 Actual variable overhead costs $105,350 Actual fixed overhead costs $183,500 Required ) Calculate the predetermined overhead rate and break it down into variable and fixed overhead cost elements. (3 marks) Supporting calculations Predetermined overhead rate Variable portion of the overhead rate Fixed portion of the overhead rate b) Calculate the standard hours allowed for the production in the recent period. (2 marks)