Required information SB (Static) Patel and Sons ... (The following information applles to the questions displayed below) Patel and Sons incorporated uses a standard cost system to apply foctory overtead costs to units produced. Practica: capacity for the plant is defined as 50.000 mach ne hours per yeak which represents 25,000 anits of output Annual: budgeted fined factory overhead costs are $250.000 and the budgeted yarable factory overhead cost rate is $4 per unit. Factory overhead costs are applied on the basin of standard machinit iourn blowed for units produced. Budgected and actual output for the year was 20,000 unts, which took 41.000 machline hours. Actival fued factory overhead sosts for the year amounted to $245.000, whilie the actual variable overnead cost per unit was $9.90. Brief Exercise 15-16 (Static) Given this information, what was (a) the fixed overhead... [LO 15-2] Bosed on the infocmation provided above, what was (a) the fived ovecthead spending (budget) variance for the year, and fb) the production volume vatianct for the year? Indicate whether each variance was favorable (f) or unfavpriale (U). (Round final answers to the nearest whole doller omount.)