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: During August, LLL had the following actual results: Lamp Light Limited (LLL) calculates a fixed overhead rate based on budgeted fixed overhead of $90,950 and budgeted production of 21,400 units. Actual results were as follows: 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. Calculate the fixed overhead rate based on budgeted production for LLL. (Round your answer to 2 Complete this question by entering your answers in the tabs below. 2. Calculate the fixed overhead spending variance for LL. (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 a Complete this question by entering your answers in the tabs below. Calculate the over- or underapplied fixed overhead for LLL