Jones corporation use a budget factory overhead rate to apply overhead to production. Direct labor costs are the cost driver for overhead cost. The following data are available for the year ending December 31, 2019: budget factory overhead $675,000 Actual factory overhead $726,000 Budgeted direct labor costs 450,000 Actual direct labor costs $482,000 Cost of goods sold $150,000 Direct materials inventory, December 31,2016 $100,000 Work - in - process inventory, December 31,2016 Finished goods inventory, December 31,2016 Required: A) Compute the budget factory overhead rate. B) Compute the applied overhead cost. C) What is the overhead variance? D) Prorate the overhead variance to the appropriate accounts