Required informao n {The foiiowing information appiies to the questions dispiayed beiow} Sedona Company set the following standard costs for one unit of its product for this year. Direct material (23 lbs. 9 $3.33 per 1b.] 5 34.33 Direct labor (13 hrs. Q $8.83 per hr.) 38.33 Variable overhead (13 hrs. Q $4.23 per hr.) 42.33 Fixed overhead (13 hrs. @ $2.33 per hr.) 23.33 Total standard cost $223.33 The $6.50 [$4.20 + $2.30} totat overhead rate per direct labor hour is based on an expected operating level equal to 70% of the factory's capacity of 62,000 units per month- The following monthly flexibie budget information is also available. at" .;' {teats intifib" ac #1331213 Bugst 2653 M -, . Budgeted output (units) 43,333 43,433 43,533 Budgeted labor (standard hours) 433,333 434,333 465,333 Budgeted overhead (dollars) Variable overhead $1,532,633 $1,822, 833 51,953,333 Fixed overhead 333,233 9'33, 233 998,233 Total overhead $2, 690, 333 $2, 321,333 $2, 951, 233 During the current month, the company operated at 65% of capacity, empioyees worked 389,000 hours, and the following actual overhead costs were incurred. variable overhead costs $1,553,333 Fixed overhead costs 1,348,333 Total overhead costs $2,598,333 (1} Compute the predetermined overhead application rate per hour for total overhead, variable overhead, and xed overhead. mememeamm Total overhead costs (2) Compute the total variable and total fixed overhead variances and classify each as favorable or unfavorable. {Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Rate per hour" answers to 2 decimai places.) Variable overhead costs Fixed overhead costs Total overhe ad costs