Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below] Manuel Company predicts it will operate at 80% of its productive capacity, its overhead allocation base is DLH and its standard amount per allocation base is 0.5OLH per unit. The company reports the following for this period xercise 21.17 (Algo) Computing standard overhead rate and total overhead variance LO P4 Exercise 21.17 (Algo) Computing standard overhead rate and total overhead variance LO P4 1. Compute the standard overhead rate. Hint Standard allocation base at 80% capacity is 26,375DLH, computed as 52,750 units 0.5 DLH per unit. 2. Compute the standard overhead applied 3. Compute the total overhead variance. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.)