The following information relates to Watson, Inc.'s overhead costs for the month (Click the icon to view the information) Watson allocates manufacturing overhead to production based on standard direct labor hours Compute the standard variable overhead allocation rate and the standard found overhead allocation Select the formula then enter the amounts and compute the standard variable overhead allocation rate Standard variable overhead allocation rate Select the formula, then enter the amounts and compute the standard and overhead allocation rate Standard for overhead location sts for the month: Data Table Static budget variable overhead Static budget fixed overhead Static budget direct labor hours Static budget number of units $ 7,000 $ 3,000 1,000 hours 4,900 units Print Done elds and then continue to the next