The condensed form of Nordstrop Company's flexible budget for manufacturing overhead follows: vachine-Hours Overhead Costs Cost Formula (per machine hour) $ 1.05 Variable cost Fixed cost 8,000 9.000 10.000 $ 8.400 $ 9,450 $10,500 24.800 24.800 24.800 $33,200 $34.250 $35,300 Total overhead cost The following information is available for a recent period: 1. The denominator activity of 8,000 machine- hours was chosen to compute the predetermined overhead rate. . At the 8,000 standard machine-hours level of activity, the company should produce 3,200 units of product. .. The company's actual operating results were as follows: anber of units produced Actual machine-hours Actual variable overhead costs Actual fixed overhead costs 3,500 8.500 $9.860 $25.100 Required: 1. Compute the predetermined overhead rate and break it down into variable and fixed cost elements. (Round your answers to 2 decimal places.) Predetermined overhead rate Variable rate Fixed rate per MH per MH per MH 2. What were the standard hours allowed for the year's actual output? (Do not round intermediate calculations.) Standard hours for actual production MHS Required: 1. Compute the predetermined overhead rate and break it down into variable and fixed cost elements. (Round your answers to 2 decimal places.) Predetermined overhead rate Variable rate Fixed rate per MH per MH per MH 2. What were the standard hours allowed for the year's actual output? (Do not round intermediate calculations.) Standard hours for actual production MHS