The Big Burger Restaurant Group supplies its franchise restaurants with many pre-manufactured ingredients (such as bags of frozen French fries), while other ingredients (such as lettuce and tomatoes) are sourced locally. Assume that the manufacturing plant processing the fries anticipated incurring a total of $5,376,000 of manufacturing overhead during the year. Of this amount, $2,240,000 is fixed. Manufacturing overhead is allocated based on machine hours. The plant anticipates running the machines 224,000 hours next year. Read the requirements. Requirement 1. Compute the standard variable overhead rate. Enter the formula, then compute the standard variable overhead rate. Standard variable overhead rate Requirement 2. Compute the standard fixed overhead rate. Enter the formula, then compute the standard fixed overhead rate. Standard fixed overhead rate