Norwall Company's variable manufacturing overhead should be $3.00 per standard machine-hour and its fixed manufacturing overhead should be S300,000 per month. The following information is available for a recent month: a. The denominator activity of 60000 machine-hours is used to compute the predetermined overhead rate. b. At the 60.000 standard machine-hours level of activity, the company should produce 40.000 units of product c. The company's actual operating results were Number of units produced 42,000 Actual machine-hours. 64,000 Actual variable manufacturing overhead cost $185, 600 Actual fixed manufacturing overhead cost $302, 400 Required: 1. Compute the predetermined overhead rate and break into variable and fixed cost elements. 2. Compute the standard hours allowed for the actual production 3. Compute the variable overhead rate and efficiency variances and the fixed overhead budget and volume variances