1. Compute the overhead controllable variance. 2. Compute the overhead volume variance. 3. Prepare an overhead variance report at the actual activity level of 11,250 units. Complete this question by entering your answers in the tabs below. Required 3 Required 1 Required 2 Compute the overhead controllable variance. Classify as favorable or unfavorable. Controllable variance Total actual overhead Flexible budget overhead Total Overhead control lable variance quired 2 Required James Corp. applies overhead on the basis of direct labor hours. For the month of May, the company planned production of 10,000 units (80% of its production capacity of 12,500 units) and prepared the following overhead budget Operating Levels Overhead Budget 80% Production in units 10,000 30,000 Standard direct labor hours Budgeted overhead Variable overhead costs Indirect materials Indirect labor $15,000 30,000 7,200 4,800 57,000 Power Maintenance Total variable costs Fixed overhead costs Rent of factory building Depreciation-Machinery Supervisory salaries Total fixed costs 15,000 12,100 23,900 51,000 $108,000 Total overhead costs During May, the company operated at 90% capacity (11,250 units) and incurred the following actual overhead costs: Overhead Costs Indirect materials Indirect labor $ 15,000 33,400 8,100 6,245 15,000 12,100 27,500 Power Maintenance Rent of factory building Depreciation-Machinery Supervisory salaries $117,345 Total actual overhead costs