Lamp Light Limited (LLL) manufactures tampshades. It applies variable overhead on the basis of direct labor hours Information from LLLS standard cost card follows Stad Stadt Standard Variable overhead 30.0 During August, LLL had the following actual results DEC produced 23,700 ART od 1.430 actual directors 16.000 Lamp Light Limited (LLL) calculates a fixed overhead rate based on budgeted fred overhead of $54.250 and budgeted production 21.700 units Actual results were as follows: Bumber of a produced tid sold Rotul find the 23,700 52.210 Required: 1. Calculate the fixed overhead rate based on budgeted production for 2. Calculate the fixed overhead spending variance for LLL 3. Calculate the forced overhead volume variance for LLL 4. Calculate the over-or underapplied foed overhead for at Complete this question by entering your answers in the tabs below. Regi Reg 2 and 3 Reg4 Calculate the found overhead rate based on budgeted production for LL. (Round your answer to 2 decimal places) Tood Orehead Rose Lamp Light Limited (LLL) manufactures lampshades. It applies vanable overhead on the basis of direct labor hours Information from LLLS standard cost card follows: Variable manufacturing ovechead Standard Standard Standard Quantity Rate Unit Cost 0.6 30.80 $0.40 During August, LLL hod the following actual results. Units produced and sold 23,200 Actual variable overhead$ 9, 490 Actual direct labor 16,000 houra Lamp Light Limited (LLL) calculates a fixed overhead rate based on budgeted fixed overhead of $54,250 and budgeted production of 21.700 units. Actual results were as follows Number of units produced and sold 23,700 Actual fixed overhead $52, 250 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 Reg 2 and 3 Reg 4 2. Calculate the fixed overhead spending vanance for LLL. (Indicate the effect of each variance by selecting " for favorable, "U" for unfavorable, and "None" for no effect .. zero variance).) 3. Calculate the fixed overhead volume variance for LIL. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (e, zero variance). Round Fixed overhead rate to 2 decimal places.) Show less 2 Foed Overhead Spending Variance 13 Fixed Overhead Volume Variance 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 overhead 0.6 $0.80 30.40 During August, LLL had the following actual results: Units produced and sold 23,700 Actual variable overhead$ 9, 490 Actual direct labor 16,000 hours Lamp Light Limited (LLL) calculates a fixed overhead rate based on budgeted fixed overhead of $54,250 and budgeted production of 21,700 units Actual results were as follows Number of units produced 23,700 and sold hetual fixed overhead $52, 250 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 Reg 2 and 3 Reg 4 Calculate the over- or underapplied fixed overhead for LLL. Faced overhead