Sedona Company set the following standard costs for one unit of its product for this year. Direct material (30 lbs. @ $2.00 per Ib.) Direct labor (20 hrs. @ $4.50 per hr.) Variable overhead (20 hrs. $2.90 per hr.) Fixed overhead (20 hrs. @ $1.20 per hr.) Total standard cost $ 60.00 90.ee 58.00 24.00 $232.00 The $410 (52.90 - $1.20) total overhead rate per direct labor hour is based on an expected operating level equal to 65% of the factory's capacity of 63,000 units per month. The following monthly flexible budget information is also available. Flexible Budget Budgeted output (units) Budgeted labor (standard hours) Budgeted overhead (dollars) Variable overhead Fixed overhead Total overhead Operating Levels of capacity 60% 70% 37,800 40,950 44,100 756,000 819,000 882,000 $2.192,400 $2,375,100 $2,557, see 952,800 982,00 982,800 $3,175, 200 $2,357,900 33,540,600 During the current month, the company operated at 60% of capacity, employees worked 726,000 hours, and the following actual overhead costs were incurred Variable overhead costs Fixed overhead costs Total overhead costs $2,120.000 1,065,000 $3,185,000 Exercise 21-18A Computing and interpreting overhead spending, efficiency, and volume variances LO P5 AH - Actual Hours SH - Standard Hours AVR-Actual Variable Rate SVR-Standard Variable Rate 1. Compute the variable overhead spending and efficiency variances 2. Compute the fixed overhead spending and volume variances and classify each as favorable or unfavorable 3. Compute the controllable variance Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required a Compute the variable overhead spending and efficiency variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance, "Rate per unit" to 2 decimal places.) Actual Variable OH Cost Flexible Budget Standard Cost (VOH applied) 0 5 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the fixed overhead spending and volume variances and classify each as favorable or unfavorable (Indicate the effect of each variance by unfavorable, and no variance. Round "Rate per unit to 2 decimal places.) Actual Fixed OH cost Fixed OH (Fixed Budgeted) Standard Cost (FOH applied) $ Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the controllable variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Controllable Variance Controllable variance