Brief Exercise 11-7 Computing Fixed Overhead Variances (LO2- CC11, 12) Primara Corporation has a standard costing system in which it applies overhead to products on the basis of the st hours allowed for the actual output of the period. Data concerning the most recent year appear below: Total budgeted fixed overhead cost for the year Actual fixed overhead cost for the year Budgeted standard direct labour-hours (denominator level of activity) Actual direct labour-hours Standard direct labour-hours allowed for the actual output $ 500,000 $ 508,900 50,000 54,000 52,000 Required: 1. Compute the fixed portion of the predetermined overhead rate for the year.. Predetermined overhead rate per DLH 2. Compute the fixed overhead budget variance and volume variance. (Indicate the effect of each variance by sel favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).) Fixed overhead budget variance Fixed overhead volume variance