Exercise 23-6 Computation of total variable and fixed overhead variances LO P3 Sedona Company set the following standard costs for one unit of its product for 2013. Direct material (20 lbs. a $2.50 per lb.) 50.00 Direct labor (10 hrs. $8.00 per hr.) 80.00 Factory variable overhead (10 hrs. $4.00 per hr.) 40.00 Factory fixed overhead (10 hrs. $1.60 per hr.) 16.00 186.00 Standard cost The $5.60 ($4.00 $1.60) total overhead rate per direct labor hour is based on an expected operating level equal to 75% of the factory's capacity of 50,000 units per month. The following monthly flexible budget information is also available. Operating Levels of capacity) 70% 75% 80% 35,000 40,000 Budgeted output (units) 37,500 350,000 375,000 Budgeted labor (standard hours) 400,000 Budgeted overhead (dollars) 1,400,000 1,500,000 1,600,000 Variable overhead 600,000 600,000 600,000 Fixed overhead $2,000,000 2,100,000 2,200,000 Total overhead During the current month, the company operated at 70% of capacity, employees worked 340,000 hours, and the following actual overhead costs were incurred. (Round "oH costs per hour" to 2 decimal places.) $1,375,000 Variable overhead costs 628,600 Fixed overhead costs $2,003,600 Total overhead costs