Ch 10a Calculator Pritom Overhead Application, Fixed and Variable Overhead Variance Zepel Company is planning to produce 600,000 power drills for the coming year. The company uses direct labor hours to assign overhead to products. Each drill requires 0.75 standard hour of labor for completion. The total budgeted overhead was $1,777,500. The total fixed overhead budgeted for the coming year is $832,500. Predetermined overhead rates are calculated using expected production, measured in direct labor hours. Actual results for the year are: Actual production (units) 594,000 Actual variable overhead $928,000 Actual direct labor hours (AH) 445,000 Actual fred overhead $895,000 Required: 1. Compute the applied fixed overhead. $325,100 x 2. Compute the fixed overhead spending and volume variances. Enter amounts as positive numbers and select favorable or Unfavorab Spending variance 5 3 ,100 Volume variance $ 8,325 favorable 3. Compute the applied variable overhead. $936,600 X 4. Compute the variable overhead spending and effidency numbers and select favorable or Unfavorable Spending variance 5 3 ,600 cances 1.050 favorab