Manuel Company predicts it will operate at 80% of its productive capacity. Its overhead allocation base is DLH and its standard amount per allocation base is 0.5DLH per unit The company reports the following for this period. Exercise 21-17 (Algo) Computing standard overhead rate and total overhead variance LO P4 1. Compute the standard overhead rate. Hint Standard allocation base at 80% capacity is 26.750DLH, computed as 53,500 units 0.5 OLH per unit: 2. Compute the standard overhead applied 3. Compute the total overhead vartance. (Indicate the effect of the verlance by selecting favorable, unfavorable, or no variance.)