3.34 points Norwall Company's variable manufacturing overhead should be $1.80 per standard machine-hour and its fixed manufacturing overhead should be $59,904 per month The following information is available for a recent month a. The denominator activity of 24,960 machine-hours is used to compute the predetermined overhead rate b. At the 24,960 standard machine-hours level of activity, the company should produce 10,400 units of product. c. The company's actual operating results were Number of units produced Actual machine-hocurs Actual variable manufacturing owerhead cost Actual fixed manufacturing overhead cost 25,690 48,811 51,100 Required 1. Compute the predetermined overhead rate and break it down into variable and fixed cost elements (Round your answers to 2 decimal places.) Variable element Fixed element per MH per MH per MH 2. Compute the standard hours allowed for the actual production MHs 3. Compute the variable overhead rate and efficiency variances and the fixed overhead budget and volume variances. (Indicate the effect of each variance by selectina "F" for favorable. "U'" for unfavorable. and 1. Compute the predetermined overhead rate and break it down into variable and fixed cost elements. Round your answers to 2 decimal places.) 2. Compute the standard hours allowed for the actual production 3. Compute the variable overhead rate and efficiency variances and the fixed overhead budget and volume variances. (Indicate the effect of each variance by selecting "F' for favorable, "U" for unfavorable, and None" for no effect .e., zero variance). Round your intermediate calculations and final answers to 2 decimal places.) Check my work