Required information [The following information applies to the questions displayed below] Manuel Company predicts it will operate at BO\% of its productive capacity. Its overhead allocation base is DUH and its standard amount per allocation base is 0.5DLH per urit. The company reports the folowing for this pecied. 1. Compute the standard overhead rate. Hint Standard allocation base at 80% capacity is 27,125 0t., computed as 54,250 units = 0.5 DUH per unit. 2. Compute the standard overhead applied. 3. Compute the total overhead variance. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance)