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 electing 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 electing favorable, unfavorable, or no variance.) Required information [The following information applies to the questions displayed below.] Hart Company made 3,160 shelves using 22,160 pounds of wood costing $285,864. The company's direct materials standards for one shelf are 8 pounds of wood at $12.80 per pound. lart Company uses a standard costing system. Prepare the journal entry to charge direct materials costs to Work in Process Inventory nd record the direct materials variances. Journal entry worksheet Record direct materials price and quantity variances. Note: Enter debits before credits