Wymont Company produces a single product that requires a large amount of labor time. Overhead cost is applied on the basis of standard direct labor-hours. Variable manufacturing overhead should be $4 per standard direct labor-hour and fixed manufacturing overhead should be $330,750 per year.

The companys product requires 2 feet of direct material that has a standard cost of $6.5 per foot. The product requires 1.5 hours of direct labor time. The standard labor rate is $18 per hour.

During the year, the company had planned to operate at a denominator activity level of 36,750 direct labor-hours and to produce 24,500 units of product. Actual activity and costs for the year were as follows:

Number of units produced		26,500
Actual direct labor-hours worked		39,000
Actual variable manufacturing overhead cost incurred	$	64,000
Actual fixed manufacturing overhead cost incurred	$	436,750

Required: 1. Compute the predetermined overhead rate for the year. Break the rate down into variable and fixed componentS Predetermined overhead rate Variable element Fixed element per DLH per DLH per DLH 2. Complete the standard cost card for the company's product; show the details for all manufacturing costs on your standard cost card. (Round your answers to 2 decimal places.) feet at $ per foot Direct materials, Direct labor Variable overhead, Fixed overnead, DLHs at$ per DLH DLHs at $ DLHs at $ per DLH per DLH Standard cost per unit 3a. Compute the standard direct labor-hours allowed for the year's production. Standard direct labor hours DLHs 3b. Complete the following Manufacturing Overhead T-account for the year (Input all amounts as positive values.): Manufacturing Overhead (Click to select) (Click to select) (Click to select) 4. Determine the reason for the underapplied or overapplied overhead from (3) above by computing the variable overhead efficiency and rate variances and the fixed overhead budget and volume variances (Input all amounts as positive values. Leave no cells blank - be certain to enter "O" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Variable overhead efficiency variance Variable overhead rate variance Fixed overhead budget variance Fixed overhead volume variance (Click to select) (Click to select) (Click to select) (Click to select)