account b. Post General Journal Vo (9.3A) Compute overhead and analyze volume and spending variances. (Objs.4,5,7). Se lected data for the Beverly Hills Manufacturing Company for the year 2006 follow: Actual for Year 248,300 Budgeted for Year 260,000 Direct Labor Hours Manufacturing Overhead Fixed Variable Total Overhead $ 585,000 1,092,000 $1,677,000 $ 578,400 1,039,940 $1,618,340 Overhead is applied on the basis of direct labor hours. Instructions 1. Compute the overhead application rate. 2. Compute the applied overhead for the year. 3. Compute the total overapplied or underapplied overhead for the year. 4. Analyze the total overapplied or underapplied overhead into a volume variance and a spending variance