The loan department of Calgary Bank uses standard costs to determine the overhead cost of processing loan applications. During the current month, a fire occurred, and the accounting records for the department were mostly destroyed. The following data were salvaged from the ashes.

Standard variable overhead rate per hour	$8
Standard hours per application	2
Standard hours allowed	3,060
Standard fixed overhead rate per hour	$7
Actual fixed overhead cost	$22,260
Variable overhead budget based on standard hours allowed	$18,700
Fixed overhead budget	$22,260
Overhead controllable variance	$1,400	U

(a) Determine the following.

(1)	Total actual overhead cost	$
(2)	Actual variable overhead cost	$
(3)	Variable overhead costs applied	$
(4)	Fixed overhead costs applied	$
(5)	Overhead volume variance	$	UnfavorableFavorable

(b) Determine how many loans were processed.

Number of loans processed

loans