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 sex Capacity 54,750 $ 301,125 54,750 $355,875 Actual Results 51,600 $367,700 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 27.375 DLH, computed as 54,750 units 05 DLH per unit 2. Compute the standard overhead applied. 3. Compute the total overhead variance. (Indicate the effect of the variance by selecting favorable, unfavorable, or no varlance.) 1. Standard overhead rate 2. Standard overhead applied 3. Overhead variance-