Given the following standard cost system data, how would one solve items 1.) and 2.)? Thanks!

Course Documents-MH \D Study Guide for Test-2-? D Chapter 08 Pre-built Ass x \. ? X) tpx Cal Poly-Managerial Accounting 208: Spring 208 CPP Managerial Section 01 Leroy Brown TING Chapter 08 Pre-bulit Assignment instructlons I help Question 7 (of 10 Save & Exit Submit 10.00 polnts Primara Corporation has a standard cost system in which it applies overhead to products based on the standard direct labor hours allowed tor the actual output of the period. Data conceming the most recent year appear below: Total budgeted xed overhead cost for the year Aclual fixed overhead cost for the year Budgeted standard direct labor-hours (denominator level of activity) Actual direct labor hours Standard direct labor-hours allowed for the actual outout 5453,600 $448,000 54,000 55,000 52,000 Required: 1 Compute the fxed portion of the predetermined overhead rate tor the year. (Round Fixed portion of the predetermined overhead rate to 2 decimal places.) Fixed overhead Denominator level of acvit Fixed portion of the predetermined ovemead 2. Compute the fxed ovemead hudget vanance and volume vanance (Round Fixed portion of the predetermined overhead rate to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e, zero variance))