Holiday Company prepares packed lunches for hikers in Yosemite. Hikers order their lunches by 10 pm and their lunch is left at their hotel room door in a re-useable insulated bag by 5 am the following morning. Holiday budgeted 5,000 lunches for July and each lunch requires 0.50 process hours. Holiday's static budget for electricity for the month is $3,000. Actual sales, process hours, and electricity cost totaled 5,100 lunches, 2,480 PH, and $3,040, respectively. If the company used a static budget for performance evaluations, Holiday would report a cost variance of: Eyelet Industries produces specialized laces for running shoes, hiking shoes, and work boots. Eyelet budgeted $112,500 for variable overhead and $45,000 for fixed overhead when the monthly planned activity was 7,500 process hours to produce 15,000 laces. Actual lace production was 15,400 laces and 7,680 process hours were used. If the company applies overhead using standard costing, how much overhead was applied during the month? Multiple Choice $157,500. O $161.280. $161,700. $157,910. O O None of the answers is correct