World Company expects to operate at 80% of its productive capacity of 60,000 units per month. At this planned level, the company expects to use 26,400 standard hours of direct labor. Overhead is allocated to products using a predetermined standard rate of 0.550 direct labor hour per unit. At the 80% capacity level, the total budgeted cost includes $39,600 fixed overhead cost and $316,800 variable overhead cost. In the current month, the company incurred $353,000 actual overhead and 23,400 actual labor hours while producing 45,000 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.n