The following information applies to the questions displayed below) Sedona Company set the following standard costs for one unit of its product for this year. Direct material (15 Ibs. $3.20 per Ib.) Direct labor (12 hrs. @ $7.82 per hr.) Variable overhead (10 hrs. $4.10 per hr.) Fixed overhead (10 hrs. & $1.70 per hr.) Total standard cost $ 48.00 79.00 41.00 17.00 $176.00 The $5.80 ($4.10 - $1.70) total overhead rate per direct labor hour is based on an expected operating level equal to 70% of the factory's capacity of 51,000 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 Lavels (of capacity) 65% 7e 75% 33,150 35,700 38,25 331,500 357, eae 382,500 $1,359,150 51,463, 780 $1,568,250 666,960 605,990 626,900 $2,966,65 $2,87e, see $2,175,150 During the current month, the company operated at 65% of capacity, employees worked 320,000 hours, and the following actual overhead costs were incurred. Variable overhead costs Fixed overhead casts Total overhead costs $1,325,820 649,650 51,974,650 (1) Compute the predetermined overhead application rate per hour for total overhead, variable overhead, and fixed overhead. Predetermined OH Rate Variable overhead costs Fixed overhead costs Total overhead Costa (2) Compute the total variable and total fixed overhead variances and classify each as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Rate per hour answers to 2 decimal places.) --..At 65% of Operating Capacity-...---- Standard DL Overhead Costs Actual Results Variance Hours Applied Fav./Unf. Variable overhead costs Fixed overhead coats Total overhead costs