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 0.5 DLH per unit. The company reports the following for this period. Production (in units) Overhead Variable overhead Fixed overhead Total overhead Flexible Budget at 80% Capacity 51,000 Actual Results 45,600 $ 280,500 51,000 $331,500 $ 318,200 Exercise 23-17 (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 25,500 DLH, computed as 51,000 units 0.5 DLH per unit. 2. Compute the standard overhead applied. 3. Compute the total overhead variance. Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. 1. Standard overhead rate. 2. Standard overhead applied 3. Overhead variance Required 1 Required 2 Compute the overhead controllable variance. Indicate variance as favorable or unfavorable. Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. Controllable variance Actual total overhead Budgeted (flexible) overhead Controllable variance < Required 1 Required 2