World Company expects to operate at 80% of its productive capacity of 62,500 units per month. At this planned level, the company expects to use 26,500 standard hours of direct labor. Overhead is allocated to products using a predetermined standard rate of 0.530 direct labor hour per unit. At the 80% capacity level, the total budgeted cost includes $45,050 fixed overhead cost and $323,300 variable overhead cost. In the current month, the company incurred $370,000 actual overhead and 23,500 actual labor hours while producing 47,000 units. 14.32 points (1) Compute the overhead volume variance Classify each as favorable or unfavorable (2) Compute the overhead controllable variance. Classify each as favorable or unfavorable. eBook Hint Complete this question by entering your answers in the tabs below. Print References Required 1 Required 2 Compute the overhead volume variance. Classify as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "OH costs per DL hour" to 2 decimal places.) This is unclear or not useful Fixed Overhead Applied Fixed OH per DL hr. 1.70 Standard DL hours Fixed overhead applied Volume Variance Total fixed overhead applied Total budgeted fixed OH Volume variance World Company expects to operate at 80% of its productive capacity of 62,500 units per month. At this planned level, the company expects to use 26,500 standard hours of direct labor. Overhead is allocated to products using a predetermined standard rate of 0.530 direct labor hour per unit. At the 80% capacity level, the total budgeted cost includes $45,050 fixed overhead cost and $323,300 variable overhead cost. In the current month, the company incurred $370,000 actual overhead and 23,500 actual labor hours while producing 47,000 units. 14.32 points (1) Compute the overhead volume variance Classify each as favorable or unfavorable. (2) Compute the overhead controllable variance. Classify each as favorable or unfavorable. eBook Hint Complete this question by entering your answers in the tabs below. Print References Required 1 Required 2 Compute the overhead controllable variance. Classify each as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Total actual overhead Flexible budget overhead Fixed Variable Total Overhead controllable variance