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 Actual fixed overhead cost for the year Budgeted standard direct labour-hours Actual direct labour-hours Standard direct labour-hours allowed for the actual output $124,740 $121,340 23, 160 24,600 21,100 Required 1. Compute the fixed portion of the predetermined overhead rate for the year. (Round your answer to 2 decimal places) Predecermined overhead rate per DLH 2. Compute the fixed overhead budget and volume vartances. (Indicate the effect of each vartance by selecting F for favourable. "U" for unfavourable, and "None for no effectie, zero vartance).) Fixed Overhead budget variance Fixed overhead volume varande The direct materials and direct labour standards for one bottle of Clean All spray cleaner are given below. Direct saterials Director 7.0 millilitres 0.2 hours $0.12 per 1111 tre $ 12.00 per hour $ 2.34 $ 2. During the most recent month, the following activity was recorded a 29,000 miles of material was purchased at a cost of $0 27 per militre. b. All of the material was used to produce 3,000 bottles of Clean All c 725 hours of direct labour time was recorded at a total labour cost of $8.700. Required 1. Compute the direct materials price and quantity variances for the month. (Indicate the effect of each varlance by selecting "F" for favourable. "U" for unfavourable, and "None" for no effect e zero variancel) Materials price vatande Materials quantity variance 2. Compute the direct labour rate and efficiency variances for the month (Indicate the effect of each variance by selecting "F" for favourable. "U" for unfavourable, and "None" for no effecte, zero variance) Labout rate variance Labour efficiency variance