Performance Report Based on Actual Production Palladium Inc. produces a variety of household cleaning products. Palladium's controller has developed standard costs for the following four overhead items: Variable Rate per Direct Overhead Item Total Fixed Cost Labor Hour Maintenance $ 86,000 $0.20 Power 0.45 Indirect labor 140,000 2.10 Rent 35,000 Assume that actual production required 93,000 direct labor hours at standard. The actual overhead costs incurred were as follows: Maintenance $107,000 Power 41,200 Indirect labor 336,000 Rent 35,000 Required: Prepare a performance report for the period based on actual production. If an amount box does not require an entry, enter "0". Enter a favorable variance as a negative amount, and an unfavorable variance as a positive amount. If an amount is zero, enter "0" and choose "Not applicable" from the dropdown list. Performance Report Actual Budgeted Variance Direct labor hours based on actual 93,000 41,850 X 51,150 X Not applicable X Incorrect Variable overhead: Maintenance 107,000 V $ 17,200 X 89,800 X Unfavorable v Power 41,200 41,850 -650 Favorable V Indirect labor 336,000 V 294,000 X 42,000 X Unfavorable v Rent 35,000 35,000 Not applicable v Total overhead 519,200 V $ 388,050 X $ 13,150 X Unfavorable v