Please try to answer this practice exam question for my test next week. Thank you very much!

Required: 1. Compute the predetermined overhead rate and break it down Into variable and xed cost elemente. [Round your answers to 2 decimal places.) Predetermined overhead - rate m 2. What were the standard hours ailowed for the year's actual output? {Do not round Intermediate calculations.) _:IE 3. Compute the variable overhead spending and ehiclency variances and the xed overhead budget and volume variances. {Do not round intermediate calculations. Round your answers to 2 decimal places. Indicate the e'ect 01' each variance by selecting \"F" for favourable. \"U" for unfavourable, and "None" lror no effect (La, zero variance\" Variable overhead spending variance Variable overhead efciency valianoe Fixed overhead budget valiance Fixed overhead volume van'anm The condensed form of Nordstrop Company's flexible budget for manufacturing overhead follows: Cost MachineHours Formula Overhead Costs {per 1123"\"? 5,000 6,000 7,000 Variable cost $130 $ 8500 $ 10200 $ 11300 Fixed cost 13,500 13,500 13,500 Total overhead 22,000 23,700 25,400 cost $ $ $ The following information is available for a recent period: a The denominator activity of 5,000 machinehours was chosen to compute the ' predetermined overhead rate- At the 5,000 standard machinehours level of activity, the company should produce 1,000 ' units of product. c. The company's actual operating results were as follows: Number of units produced 1,300 Actual machinehours 9,200 Actual variable overhead costs $14,260 Actual fixed overhead costs $18,000 Required: 1. Compute the predetermined overhead rate and break it down into variable and xed cost elements. (Round 1your answers to 2 decimal places.)