L08-Variance Analysis Assignment Help Save & EXIT Submit 4 2 Brief Exercise 11-7 Computing Fixed Overhead Variances (LO2 - CC11, 12) points Skipped eBook Print Primara Corporation has a standard costing system in which it applies overhead to products on the basis of the standard direct labour-hours allowed for the actual output of the period. Data concerning the most recent year appear below: References 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 Required: 1. Compute the fixed portion of the predetermined overhead rate for the year. Predetermined overhead rate per DLH $500,000 $508,000 50,000 54,000 52,000 2. Compute the fixed overhead budget variance and volume variance. (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).) Fixed overhead budget variance Fixed overhead volume variance