Requlred Information [The following information applles to the questions displayed below] Sedona Company set the following standard costs for one unit of its product for this year. The $3.70($2.50+$1.20) total overhead rate per direct labor hour (DLH) is based on a predicted activity level of 38.500 units, which is 70% of the factory's capacity of 55,000 units per month. The following monthly flexible budget information is avatlable, During the current month, the company operated at 65% of capacity, direct labor of 678,000 hours were used, and the following actual overhead costs were incurred. Compute the total variable overhead vanance and identify it as favorable or unfavorable. (Indicate the effect of the varience by electing favoroble, unfavorable, or no varionce.) Compute the total fixed overhead variance and idenmfy it as favorable or unfavorable. (Indicate the effect of the varlance by electing favorable, unfavorable, or no variance.) During the current month, the company operated at 65% of capacity, direct labor of 678,000 hours were used, and the following actual overhead costs were incurred. Compute the total variable overhead variance and identify it as favorable or unfavorable. (Indicate the effect of the varlance by electing favorable, unfavorable, or no varlance.) 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.)