Required information [The following information applies to the questions displayed below] Manuel Company predicts it will operate at 80% of its productlve capacity. Its overhead allocation base is DLH and its standard amount per allocation base is 0.5DLH per unit. The company reports the following for this period. Compute the standard overhead rate. Hint Standard allocation base at 80% capacity is 27,000DLH, computed as 54,000 units 0.5DLH per unit. Compute the standard overhead applied. Compute the total overhead variance. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.)