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 this year. The $5.20($3.70+$1.50) total overhead rate per direct labor hour (DLH) is based on a predicted activity level of 43,550 units, which is 65% of the factory's capacity of 67,000 units per month. The following monthly flexible budget information is available. During the current month, the company operated at 60% of capacity, direct labor of 382,000 hours were used, and the following actual overhead costs were incurred. 1. Compute the total variable overhead variance and identify it as favorable or unfavorable. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) 2. Compute the total fixed overhead variance and identify it as favorable or unfavorable. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) \begin{tabular}{|l|l|l|} \hline Required 1 & Required 2 & Required 3 \\ \hline \end{tabular} Compute the controllable variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ Controllable Variance } \\ \hline & & \\ \hline Controllable variance & & \\ \hline \end{tabular} Required 2 Required 3 > \begin{tabular}{|l||l|l} \hline Required 1 & Required 2 & Required 3 \\ \hline \end{tabular} Compute the variable overhead spending and efficiency variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per unit" to 2 decimal places.) Required 2> decimal places.)