James Corp. applies overhead on the basis of direct labor hours. For the month of May, the company planned production of 10,000 units (80% of its production capacity of 12,500 units) and prepared the following overhead budget rating Levels Overhead Budget Production in units Standard direct labor hours Budgeted overhead 80% 18,808 28,8e8 Variable overheadcosts $15,800 28,8e8 5,888 2,888 42,808 Indirect materials Indirect labor Power Total variable costs Fixed overhead costs Rent of factory building Depreciation-Machinery Supervisory salaries Total fixed costs 15,8e 11,288 9.888 36,888 $78,808 Total overhead costs During May, the company operated at 90% capacity (11,250 units) and incurred the following actual overhead costs: Overhead Costs $15,808 22,480 5,625 3,858 15,8e 11,288 12,508 Indirect materials Indirect labor Power Maintenance Rent of factory building Depreciation-Machinery Supervisory salaries $84,775 Total actual overhead costs 1. Compute the overhead controllable variance. 2. Compute the overhead volume variance 3. Prepare an overhead variance report at the actual activity level of 11,250 units. Complete this question by entering your answers in the tabs below Required 1Required 2 Required 3 Compute the overhead controllable variance. Classify as favorable or unfavorable. Total actual overhead Flexible budget overhead Total Overhead controllable variance Required 2> Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the overhead volume variance. Classify as favorable or unfavorable. (Do not round intermediate calculations) Volume Variance Volume variance 3. Prepare an overhead variance report at the actual activity level of 11.250 units. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare an overhead variance report at the actual activity level of 11,250 units. Classify as favorable or unfavorable. (Do not round intermediate calculations.) JAMES CORP Overhead Variance Report For Month Ended May 31 Expected production volume Production level achieved Volume variance Controllable Variance Flexible Budget Actual Results Variances Variable overhead costs: Fixed overhead costs: Total overhead costs Required 2