Norwall Company's budgeted variable manufacturing overhead cost is $1.05 per machine-hour and its budgeted fixed manufacturing overhead is $27,094 per month. The following information is avallable for a recent month: a. The denominator activity of 8,740 machine-hours is used to compute the predetermined overhead rate. b. At a denominator activity of 8,740 machine-hours, the company should produce 3,800 units of product. c. The company's actual operating results were: Required: 1. Compute the predetermined overhead rate and break it down into variable and fixed cost elements. Note: Round your answers to 2 decimal places. 2. Compute the standard hours allowed for the actual production. 3. Compute the variable overhead rate and efficiency variances and the fixed overhead budget and volume variances. Note: indicate the effect of each variance by selecting " F " for favorable, " U " for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Round your intermediate calculations and final answers to 2 decimal places