! Required Information [The following Information applies to the questions displayed below.] Manuel Company predicts it will operate at 80% of its productive capacity. Its overhead allocation base is DLH and its standard amount per allocation base is 0.5 DLH per unit. The company reports the following for this period. Flexible Budget at 80% Capacity 54,750 Actual Results 51,600 Production (in units) Overhead Variable overhead Fixed overhead Total overhead $ 301,125 54,750 $ 355, 875 $367,700 1. Compute the standard overhead rate. Hint: Standard allocation base at 80% capacity is 27,375 DLH, computed as 54,750 units X 0.5 DLH per unit. 2. Compute the standard overhead applied. 3. Compute the total overhead varlance. (Indicate the effect of the varlance by selecting favorable, unfavorable, or no varlance.) 1. Standard overhead rate 2. Standard overhead applied 3. Overhead variance (1) Compute the overhead volume varlance. Indicate varlance as favorable or unfavorable. (2) Compute the overhead controllable varlance. Indicate variance as favorable or unfavorable. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the overhead volume variance. Indicate variance as favorable or unfavorable. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Volume Variance Volume variance Required 1 Required 2 Compute the overhead controllable variance. Indicate variance as favorable or unfavorable. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Overhead Controllable Variance Overhead controllable variance