Overhead is applied on the basis of standard machine hours. 2.80 hours of machine time are required for each direct labor hour. The jobs were sold for \$462.000. Selling and administrative expenses were $41.200. Assurne that the amount of raw materiaks purchased equaled the amount used. Overhead is applied on the basis of standard machine hours. 2.80 hours of machine time are required for each direct labor hour. The jobs were sold for $462,000. Selling and administrative expenses were $41,200. Assume that the amount of raw materials purchased equaled the amount used. Compute the overhead controllable variance and the overhead volume variance. Overhead controllable variance Overhead volume varlance 4