Sedona Company set the following standard costs for one unit of its product for this year. Direct material (30 lbs. @ $2.50 per Ib.) Direct labor (20 hrs. @ $4.60 per hr.) Variable overhead (20 hrs. @ $2.50 per hr.) Fixed overhead (20 hrs. @ $1.10 per hr.) Total standard cost $ 75.00 92.00 50.00 22.00 $239.00 The $3.60 ($2.50 + $110) total overhead rate per direct labor hour is based on an expected operating level equal to 65% of the factory's capacity of 60,000 units per month. The following monthly flexible budget information is also available 703 Operating Levels of capacity) 60X 65% 36,000 39,000 42,000 720,000 780,000 840,000 Flexible Budget Budgeted output (units) Budgeted labor (standard hours) Budgeted overhead (dollars) Variable overhead Fixed overhead Total overhead $1,800,000 858,000 $2,658,000 $1,950,000 858,000 $2,800,000 $2,100,000 858,000 $2,958,000 During the current month, the company operated at 60% of capacity, employees worked 690,000 hours, and the following actual overhead costs were incurred Variable overhead costs Fixed overhead costs Total overhead costs $1,750,000 910,000 $2,660,000 (1) Compute the predetermined overhead 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 varianco by selecting for favorable, unfavorable, and no variance Round "Rate per hour answers to 2 decimal places.) At 60% of Operating Capacity Standard DL Overhead Costs Variance Actual Results Favuni. Hours Applied Variable overhead costs Fixed overhead costs OH Roto Variable overhead costs Fixed overhead costs Total overhead costs (2) Compute the total variable and total fixed overhead variances and classify each as favorable or unfavorable (Indicate the effect of each variance by selecting for favorable, unfavorable and no variance. Round "Rate per hour answers to 2 decimal places.) At 60% of Operating Capacity- Standard DL Overhead Costs Actual Results Hours Variance Fav./Unt, Applied Variable overhead costs Fixed overhead costs Total overhead costs