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 Direct material (30 lbs. $2.30 per Ib.) Direct Labor (20 hrs. 54.30 per hr.) Variable overhead (20 hrs. $2.30 per hr.) Fixed overhead (20 hrs. $1.28 per hr.) Total standard cost $69.00 86.00 46.00 24.00 $225.00 The $350 (52 30 + $120) total overhead rate per direct labor hour is based on an expected operating level equal to 60% of the factory's capacity of 69,000 units per month. The following monthly flexible budget information is also available. Operating Levels (% of capacity) Flexible Budget 55% 60% 655 Budgeted output (units) 37,950 41,400 44,850 Budgeted labor (standard hours) 750,000 828,000 897,000 Budgeted overhead (dollars) Variable overhead $1,745,700 31,904,400 $2,063, 100 Fixed overhead 993,600 903,600 993.600 Total overhead 32,739,300 $2,098,000 33,056,700 During the current month, the company operated at 55% of capacity, employees worked 731.000 hours, and the following actual overhead costs were incurred Variable overhead costs Fixed overhead costs Total overhead costs $1,710,000 1,031,500 $2,741,500 AH-Actual Hours SH - Standard Hours AVR-Actual Variable Rate SVR - Standard Variable Rate 1. Compute the variable overhead spending and efficiency variances 2. Compute the fixed overhead spending and volume variances and classily each as favorable or unfavorable 3. Compute the controllable variance AH Actual Hours SH=Standard Hours AVR - Actual Variable Rate SVR Standard Variable Rate 1. Compute the variable overhead spending and efficiency variances 2. Compute the foed overhead spending and volume variances and classily each as favorable or unfavorable 3. Compute the controllable arance Complete this question by entering your answers below Red Red Compute the areas and one once the dance for favorabila andre variation as per 2 dalis) At Won son AH AH SH SVR 31000 234 731000 20 22.000 11110000 S300 1.145.700 52000 5 AVS Variations sonding Vw $ 2700 ADO S. 100 Required) AH Actual Hours SH - Standard Hours AVR - Actual Variable Rate SVR Standard Variable Rate 1. Compute the variable overhead spending and efficiency varsances 2. Compute the fixed overhead spending and volume variances and classify each as favorable or unfavorable. 3. Compute the controllable variance Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the fixed overhead spending and volume variances and classify each as favorable or unfavorable, indicate the effect of each wariance by selecting for favorabile unfavorable, and no variance. Round "Rate per unit to 2 decimal places) Actual Fixed Oh cest Fixed OH (Fixed Budgeted) Standard Coutopplied) Standard hours 51,031 500 5993.600 $ 37.900 5 Fired overhead spending variance bed Overhead volume variance Totalted overhead cost variance 37,000 Unfavorable unfavorable 120,700 Unfavocablo $ AH = Actual Hours SH - Standard Hours AVR = Actual Variable Rate SVR = Standard Variable Rate 1. Compute the variable overhead spending and efficiency variances 2. Compute the fixed overhead spending and volume variances and classify each as favorable or unfavorable. 3. Compute the controllable variance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the controllable variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance) Controllable Variance Variable overhead spending variance Variable overhead efficiency variance Faced overhead spending variance $ 2,200 Unfavorable Controllable variance