World Company expects to operate at 80% of its productive capacity of 65,000 units per month. At this planned level, the company expects to use 33,800 standard hours of direct labor. Overhead is allocated to products using a predetermined standard rate of 0.650 direct labor hour per unit. At the 80% capacity level, the total budgeted cost includes $64,220 fixed overhead cost and $419,120 variable overhead cost. In the current month, the company incurred $483,000 actual overhead and 30,800 actual labor hours while producing 49,000 units (1) Compute the overhead volume variance. Classify each as favorable or unfavorable. (2) Compute the overhead controllable variance Classify each as favorable or unfavorable. Complete this question by entering your answers in the tabs below. 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.) Fixed Overhead Applied Fixed overhead applied Volume Variance Volume variance Required 2 > O i EEN search