Required information [The following information applies to the questions displayed below.] Manuel Company predicts it will operate at 80% of its productive 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. 1. Compute the standard overhead rate. Hint: Standard allocation base at 80% capacity is 25,750DLH, computed as 51,500 units ? 0.5 DLH per unit. 2. Compute the standard overhead applied. 3. Compute the total overhead variance. Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. Lucia Company has set the following standard cost per unit for direct materiais and direct labor. Direct materials (16 pounds 6$5 per pound) Direct labor ( 3 hours $15 per hour) 5. Be During May the company incurred the following actual costs to produce 8,600 units. Direct materials (140,5e0 pounds a $4.80 per pound) 574,400 443,940 Direct labor (29,400 hours e $15. 18 per hour ) 443,940 AR=ActualRateSR=StandardRateAQ=ActualQuantitySQ=StandardQuantityAP=ActualPriceSP=StandardPrice (1) Compute the ditect materials price and quanty variances: (2) Compute the direct labor rate variance and the direct labor efficiency variance. Complete this question by entering your answers in the tabs below. Compute the direct materials price and quantity variances. Note Indicate the effect of each variance by selecting favoreble, unfovorable, or no variance. SQ=StandardQuantityAP=ActualPriceSP=StandardPrice (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance. Complete this question by entering your answers in the tabs below. Compute the direct materiais price and quantity variances. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. SQ = Standard Quantity AP= Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance. Complete this question by entering your answers in the tabs below. Compute the direct labor rate variance and the direct labor efficiency variance. Note: Indicate the effect of each varlance by selecting favorable, unfavorable, or no variance: Round "Rate per hour" answers to 2 decimal places