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: Variable manufacturing overhead Standard Standard Standard Quantity Rate Unit Cost 0.6 50.80 $9.48 During August, LLL had the following actual results Units produced and sold Actual variable overhead Actual direct labor hours 25,900 $ 9,490 16,000 Lamp Light Limited (LLL) calculates a fixed overhead rate based on budgeted fixed overhead of $60.225 and budgeted production of 21.900 units. Actual results were as follows: unber of units produced and sold 25,900 Actual fixed overhead $56,225 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 Number of units produced and sold Actual fixed overhead 25,900 $ 56,225 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. 5 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 and 3 Reg 4 Calculate the fixed overhead rate based on budgeted production for LLL. (Round your answer to 2 decimal pla Fixed Overhead Rate per unit Reg Req 2 and 3 sold Actual fixed overhead $ 56,225 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! Complete this question by entering your answers in the tabs below. Req1 Reg 2 and 3 Reg 4 2. Calculate the fixed overhead spending variance for LLL. (Indicate the effect of each variance by selecting " for favorable, "U" for unfavorable, and "None" for no effect (ie, zero variance)) 3. Calculate the fixed overhead volume variance for LLL. (Indicate the effect of each variance by selecting "F for favorable, "U" for unfavorable, and "None" for no effect (1,4., zero variance). Round Fixed overhead rote to 2 decimal places). Show less 2 Fixed Overhead Spending Variance 3 Fixed Overhead Volume Variance Actual fixed overhead $ 56,225 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 Complete this question by entering your answers in the tabs below. Req 1 Reg 2 and 3 Req 4 Calculate the over- or underapplied fixed overhead for LLL Fixed overhead