Question 1 5 pts The standard predetermined overhead rate used in setting the standard overhead cost is determined by dividing O actual overhead costs by an expected standard activity index. O actual overhead costs by actual activity. budgeted overhead costs by an expected standard activity index budgeted overhead costs by actual activity Question 2 5 pts The purchasing agent of the Branson, Inc. ordered materials of lower quality in an effort to economize on price. What variance will most likely result? Unfavorable labor quantity variance Favorable total materials variance Unfavorable materials price variance O Favorable materials quantity variance