Happy Valley Pet Products uses a standard costing system that applies overhead to products based on standard direct labour-hours allowed for actual output of the period. During the recent year, the following data were collected: Total budgeted fixed overhead cost for the year $52,030 Actual fixed overhead cost for the year $49,730 Budgeted standard direct labourhours 12,100 Actual direct labourhours 13,100 Standard direct labourhours allowed for the actual output 10,600 Required: 1. Compute the fixed portion of the predetermined overhead rate for the year. (Round your answer to 2 decimal places.) per DLH 2. Compute the fixed overhead budget and volume variances. (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).) Fixed overhead budget variance Fixed overhead volume variance