Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours. Information from LLL's standard cost card follows: Standard Standard Standard Quantity ate Unit Cost Variable manufacturing 0.6 $0.80 $0.48 overhead During August, LLL had the following actual results Units produced and sold Actual variable overhead Actual direct labor hours 25,500 $ 9,490 16,000 Lamp Light Limited (LLL) calculates a fixed overhead rate based on budgeted fixed overhead of $41,125 and budgeted production of 23,500 units. Actual results were as follows Number of units produced and sold Actual fixed overhead 25,500 $ 39,125 Required 1. Calculate the fixed overhead rate based on budgeted production for LLL. (Round your answer to 2 decimal places.) Fixed Overhead Rate per unit 2. Calculate the fixed overhead spending variance for LLL. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) Fixed Overhead Spending Variance