World Company expects to operate at 80% of its productive capacity of 50,000 units per month. At this planned level, the company expects to use 24.400 standard hours of direct labor. Overhead is allocated to products using a predetermined standard rate of 0.610 direct labor hour per unit. At the 80% capacity level, the total budgeted cost includes $53,680 fixed overhead cost and $273.280 variable overhead cost. In the current month, the company incurred $320,000 actual overhead and 21,400 actual labor hours while producing 37,000 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 Required 1 Required 2 > World Company expects to operate at 80% of its productive capacity of 50,000 units per month. Al expects to use 24.400 standard hours of direct labor. Overhead is allocated to products using a predetermined standard rate of 0.610 direct labor hour per unit. At the 80% capacity level, the total budgeted cost includes $53,680 fixed overhead cost and $273,280 variable overhead cost. In the current month, the company incurred $320,000 actual overhead and 21,400 actual labor hours while producing 37,000 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 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 Total Overhead controllable variance