Sedona Company set the following standard costs for one unit of its product for this year. 9 Direct material (30 The 12/20 par to.) Direct labor (20 hrs. 14.20 per he. Variable overhead (20 hr. 62.20 per he. Tixed overhead (20 hrs. # 31.10 per her: Total standard cost 16.00 84.00 44.00 22.00 5216.00 02:50:54 no The $3.30 (52.20 $1.10) total overhead rate per direct labor hour is based on an expected operating level equal to 60% of the factory's capacity of 68.000 units per month. The following monthly flexible budget information is also available OLANLARI Flexible Budget 551 60 Drudgeted output (unit) 37,400 40,00 41.200 Bodgeted labor (standard hours) 748,000 816,000 884.000 Badgeted overhead dollars) Variable overhead $1,645,600 $1,795,200 51,944,800 Tixed overhead 892.600 897,600 Total overhead $2.542.200 $2.692,800 52.842.400 Hit P During the current month, the company operated at 55% of capacity, employees worked 728.000 hours, and the following actual overhead costs were incurred, References Variable overhead costs Fixed overhead conta Total overhead costs $1,625,000 924200 $2,509.300 Exercise 21-17 Computing total variable and fixed overhead variances LO P4 (1) Compute the predetermined overad application rate per hour for total overhead variable overhead and fixed overhead Predetermined OH Rate Variable overhead costs Fixed Overhead costs Total overhead costs (2) Compute the total variable and total fixed overhead variances and classily each as favorable or unfavorable Indicate the effect of each variance by electing for favorable, unfavorable, and no variance Round "Rare per hour answers to 2 decimal places) A1 55% of Operating Capacity Standard OL Overhead Costa Actual Results Vartance Favunt Hours Applied Variable overhead coats Find overhead coats Total overhead costs