Ook Int ences 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: Variable manufacturing overhead Standard Standard Quantity Rate 0.6 $0.80 Standard Unit Cost $0.48 During August, LLL had the following actual results: Units produced and sold Actual variable overhead Actual direct labor hours 24,500 $ 9,490 16,000 Lamp Light Limited (LLL) calculates a fixed overhead rate based on budgeted fixed overhead of $82,000 and budgeted production of 20,500 units. Actual results were as follows: Number of units produced and sold Actual fixed overhead 24,500 $ 78,000 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. Req 1 Req 2 and 3 Req 4 2. Calculate the fixed overhead spending variance for LLL. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) 3. Calculate the fixed overhead volume variance for LLL. (Indicate the effect of each variance by selecting "F" for favorable