The condensed form of Nordstrop Company's flexible budget for manufacturing overhead follows:

CostMachine-HoursFormulaOverhead Costs(per machine-hour)7,0008,0009,000Variable cost$1.90$13,300$15,200$17,100Fixed cost21,70021,70021,700Total overhead cost$35,000$36,900$38,800

The following information is available for a recent period:a.The denominator activity of 7,000 machine-hours was chosen to compute the predetermined overhead rate.b.At the 7,000 standard machine-hours level of activity, the company should produce 1,750 units of product.c.The company's actual operating results were as follows:

Number of units produced2,050Actual machine-hours7,900Actual variable overhead costs$14,000Actual fixed overhead costs$22,000

Required: 1. Crimpute the pradeterrninad overhead rate and break it down into variable and xed cost elements. [Round your answers to 2 decimal places.] Fredetermined overhead rate 2. What were the standard hours allowed for the year's actual output":|I {Do not round intermediate calculaticns.} __ 3. Crimpute the variable overhead spending and efficiency:r variances and the xed overhead budget and volume valiances. [Do not round intermediate calculations. Round your answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favourable, \"Ll" for unfavourable, and IIlilcne" for no effect [i.e.. zero variance].] 1ial'ariable overhead spending variance Variable overhead efciency varianoa Fixed overhead budget variance Fixed overhead volume variance The condensed form of Nordstrop Compaan flexible budget for manufacturing overhead follows: Cost Machine-Hours Ferrnute Overhead Goats [per machine-hot!) IBM acne acne 'v'ariable cost $ LED $ 13,300 $ 15,200 $ 1T,1t'.|EI Fixed oost 21,?l] 2130i} 21,?l] Total overhead cost $ 35,000 $ see-cc $ 33,300 The following information is available for a recent period: a. The denominator activityr of neon machine-hours 1.vas chosen to compute the predetermined overhead rate. in. At the Tr standard machinehours level of activity. the company should produce 1350 units of product. c. The company's actual operating results were as follows: Number of units produced 25.150 Actual machinehours KEN Actual variable overhead costs $14r Actual xed overhead ocsts $22