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 $3.50($2.30+$1.20) total overhead rate per direct labor hour (DLH) is based on a predicted actlvity level of 41,400 units, which is 60% of the factory's capacity of 69,000 units per month. The following monthly flexible budget information is avallable. During the current month, the company operated at 55% of capacity, direct labor of 731,000 hours were used, and the following actual overhead costs were incurred. Compute the total varlable overhead varlance and Identify It as favorable or unfavorable. (Inclcate the effect of the varlance by selecting favorable, unfavorable, or no varlance.) 2. Compute the total fixed overhead varlance and Identify It as favorable or unfavorable. (Indlcate the effect of the varlance by ielecting favorable, unfavorable, or no varlance.)