The condensed form of Nordstrop Company's flexible budget for manufacturing overhead follows: Machine Hours Cost Formula (per machine hour) $1.50 Overhead Costs Variable cost Fixed cost Total overhead cost 9,000 10,000 11,000 $ 13,500 $ 15,000 $ 16,500 20,700 20,700 20, 700 $ 34,200 $ 35,700 $ 37,200 The following information is available for a recent period: a. The denominator activity of 9,000 machine-hours was chosen to compute the predetermined overhead rate b. At the 9,000 standard machine-hours level of activity, the company should produce 4,500 units of product c. The company's actual operating results were as follows: Number of units produced Actual machine-hours Actual variable overhead costs Actual fixed overhead costs 4.800 9.000 $ 13,948 $ 21.000 Required 1. Compute the predetermined overhead rate and break it down into variable and fixed cost elements. (Round your answers to 2 decimal places.) Predeemned overhead rate Variablete Feed rate per per per M 2. What were the standard hours allowed for the year's actual output? (Do not round Intermediate calculationis.) Standard hours for actual production MH 2. What were the standard hours allowed for the year's actunl output? (Do not round intermediate enteuintions. houn M 3. Compute the variable overhead spending and efficiency variances and the fixed overhead budget and volume variances. (Do not round Intermediate calculations. Round your answers to 2 decimal places. Indicate the effect of each variance by selecting "Pfor favourable, "U" for unfavourable, and "None" for no effect (1.e., zero variances.) Variable overhead spending variance Variable overhead efficiency anunce Fored overhead budget variance Fred overhead volume variance