Required information The following information applies to the questions displayed below) Sedona Company set the following standard costs for one unit of its product for 2017 Direct material (20 Ibs. $2.50 per Ib.) Direct labor (18 hrs. $22.0e per hr.) Factory variable overhead (1e hrs. $4.00 per hr) Factory fixed overhead (18 hrs. $1.60 per hr.) Standard cost 58.00 220.80 40.00 16.00 $326.00 The S560 ($4 00 + $160) total overhead rate per direct labor hour is based on an expected operating level equal to 75% of the factory's capacity of 50,0 00 units per month. The following monthly flexible budget information is also available Operating Levels (3 of capacity) : 80s Flexible Budget Budgeted output (units) Budgeted labor (standard hours) Budgeted overhead (dollars) 70% 35,000 350,000 75% 37,500 375,000 8e3 40,000 400,000 Variable overhead Fixed overhead Total overhead $1,400,000 $1,500,000 $1,600,000 600,000 600,000 600,000 52,000,000 $2,100,000 $2,200,000