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: Operating Levels sex 10,000 28,000 Overhead Budget Production in units Standard direct labor hours Budgeted overhead Variable overhead costs Indirect materials Indirect labor Power Maintenance Total variable costs Fixed overhead costs Rent of factory building Depreciation-Machinery Supervisory salaries Total fixed costs Total overhead costs $ 15,480 28,000 7, een 5,600 56,000 24,000 10,900 15,500 50,400 5106,400 Dunng May, the company operated at 90% capacity (11.250 units) and incurred the following actual overhead costs. Overhead costs actual) Indirect materials Indirect labor Power Maintenance Rent of factory building Depreciation Machinery Supervisory salaries Total actual overhead costs $ 15,482 30,950 7,875 6,940 24,988 10,900 19,000 $115, 065 1. Compute the overhead controllable variance and classify it as favorable or unfavorable. 2. Compute the overhead volume variance and classify it as favorable or unfavorab 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 Power Maintenance Rent of factory building Depreciation Machinery Supervisory salaries Total actual overhead costs 7,875 6,940 24,000 10,900 19,000 $115,065 1. Compute the overhead controllable variance and classify it as favorable or unfavorable 2. Compute the overhead volume variance and classify it as favorable or unfavorable. 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 Compute the overhead controllable variance and classify it as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Controllable variance Total actual overhead Flexible budget overhead Total 0 Overhead controllable variance Rec Required 2 > Power Maintenance Rent of factory building Depreciation Machinery Supervisory salaries Total actual overhead costs 30,950 7,875 6,940 24,000 10,900 19.000 $115,065 1. Compute the overhead controllable variance and classify it as favorable or unfavorable, 2. Compute the overhead volume variance and classify it as favorable or unfavorable 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 Compute the overhead volume variance and classify it as favorable or unfavorable. (Indicate the effect of each:variance by selecting for favorable, unfavorable, and no variance. Do not round intermediate calculations.) Volume Variance Volume variance 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. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. 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 Variable overhead costs Flexible Budget Actual Results Variances Fav./Unfav. Fbed overhead costs: Total overhead costs