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 Rate Unit Cost Variable manufacturing $0.80 $0.48 0.6 overhead During August, LLL had the following actual results: Units produced and sold Actual variable overhead 24,100 $ 9,490 16,000 Actual direct labor hours Lamp Light Limited (LLL) calculates a fixed overhead rate based on budgeted fixed overhead of $35,175 and budgeted production of 20,100 units. Actual results were as follows: Number of units produced and sold 24,100 $31,175 Actual fixed overhead Required: 1. Calculate the fixed overhead rate based on budgeted production for LLL 2. Calculate the fixed overhead spending variance for LLL. 3. Calculate the fixed overhead volume variance for LLL 4. Calculate the over- or underapplied fixed overhead for LLL. 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 Rate Unit Cost Variable manufacturing $0.80 $0.48 0.6 overhead During August, LLL had the following actual results: Units produced and sold Actual variable overhead 24,100 $ 9,490 16,000 Actual direct labor hours Lamp Light Limited (LLL) calculates a fixed overhead rate based on budgeted fixed overhead of $35,175 and budgeted production of 20,100 units. Actual results were as follows: Number of units produced and sold 24,100 $31,175 Actual fixed overhead Required: 1. Calculate the fixed overhead rate based on budgeted production for LLL 2. Calculate the fixed overhead spending variance for LLL. 3. Calculate the fixed overhead volume variance for LLL 4. Calculate the over- or underapplied fixed overhead for LLL