Required 1. Compute the predetermined overhead rate for 19x3, and break it down into variable E11-7 Norwall Company's flexible budget (in condensed form) is given below: Machine-Hours Overhead Costs Cost Formula (per hour) $3 Variable costs Fixed costs Total overhead costs 50,000 60,000 70,000 $150,000 $180,000 $210,000 300,000 300,000 300,000 $450,000 $480,000 $510,000 + The following information is available: a. For 19x3, a denominator activity figure of 30,000 machine-hours was chosen to com. pute the predetermined overhead rate. b. At the 60,000 standard machine-hours level of activity, the company should produce 40,000 units of product. c. During 19x3, the company's actual operating results were: Number of units produced 42,000 Actual machine-hours 64,000 Actual variable overhead costs $185,600 Actual fixed overhead costs. 302.400 and fixed cost elements. 2. Compute the standard hours allowed for 19x3's production