Required information Use the following information for the Exercises below. (Algo) [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 0.5 DLH per unit. The company reports the following for this period, Flexible Budget at Actual 80% Capacity Results Production (in units) 50,750 45,200 Overhead Variable overhead $ 279, 125 Fixed overhead 50, 750 Total overhead $ 329,875 $ 314,900 Exercise 23-17 (Algo) Computing standard overhead rate and total overhead variance LO P4 1. Compute the standard overhead rate. Hint: Standard allocation base at 80% capacity is 25,375 DLH, computed as 50,750 units * 0.5 DLH 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.) 1. Standard overhead rate 2 Standard overhead applied 3. Overhead variance