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 Quantity 8.6 Rate Variable manufacturing overhead Standard Unit Cost $0.48 $0.89 During August, LLL had the following actual results: Units produced and sold Actual variable overhead Actual direct labor hours 25,400 $ 9,490 16,800 Lamp Light Limited (LLL) calculates a fixed overhead rate based on budgeted fixed overhead of $33,600 and budgeted production of 22.400 units. Actual results were as follows: Number of units produced and sold Actual fixed overhead 25,400 $ 30,600 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. Reg 1 Req 2 and 3 Reg 4 Calculate the fixed overhead rate based on budgeted production for LLL. (Round your answer to 2 decimal places.) Fixed Overhead Rate per unit Reg 1 Reg 2 and 3 Reg 4 2. Calculate the fixed overhead spending variance for LLL. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., 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 (i.e., zero variance). Round Fixed overhead rate to 2 decimal places.) Show less 2. Fixed Overhead Spending Variance 3. Fixed Overhead Volume Variance Complete this question by entering your answers in the tabs below. Rea 1 Reg 2 and 3 Reg 4 Calculate the over- or underapplied fixed overhead for LLL. Fixed overhead