Overhead Application, Fixed and Variable Overhead Variances Zepol Company is planning to produce 600 000 power drills or he coming year. The company uses direct abor hours assign overhead to prod C drill requires standard hour of labor for completion. The total budgeted overhead was $1,777,500. The total fixed overhead budgeted for the coming year is $832,500. Predetermined overhead rates are calculated using expected production, measured in direct labor hours. Actual results for the year are: Actual production (units) Actual direct labor hours (AH) 446,000 Actual fixed overhead Required: 594,000 Actual variable ovrhead $928,000 $835,600 1. Compute the applied fixed overhead. Round intermediate calculations to two decimal places 2. Compute the fixed overhead spending and volume variances. Spending variance Volume variance 3. Compute the variable overhead rate. Round your answer to the nearest cent. per DLH 4. Compute the variable overhead spending and efficiency variances. Spending variances Efficiency variances