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Required information Use the following information for the Exercises below. [The following information applles to the questions displayed below.] Sedona Company set the following standard costs for one unit of its product for 2017. The $5.60($4.00+$1.60) total overhead rate per direct labor hour is based on an expected operating level equal to 75% of the factory's capacity of 50,000 units per month. The following monthly flexible budget information is also available. During the current month, the company operated at 70% of capacity, employees worked 340.000 hours, and the following actual overhead costs were incurred. AH=ActualHoursSH=StandardHoursAVR=ActualVariableRate actual overhead costs were incurred. AH= Actual Hours SH= Standard Hours AVR = Actual Variable Rate SVR = Standard Variable Rate SFR = Standard Fixed Rate Exercise 21-17 Computation of total variable and fixed overhead variances LO P3