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Lamp Light Limited (LL) manufactures lampshades. It apples variable overhead on the basis of direct iabor hours. Information from UL's standard cost card follows During August, 1.L had the following actual results: Lamp Hght Limited (LLL calculates a fixed overhead rate based on budgeled fixed overhead of $61,600 and budgeted production of 22.400 units. Actual results were as follows: Required: 1. Calculate the fixed overhead rate based on budgeted production for LLL. 2. Calculate the fixed overhead spending variance for LLL 3. Calculate the fixed overhead volume variance for LLL 4. Calculate the over-or underapplied fixed overhead for LLL. Complete this question by entering your answers in the tabs below. 2. Calculate the fixed overthead spending variance for LL. (Indicate the effect of each variance by selecting "F" for favorable, "U" for untavorable, and "None" for no effect (0.e. zero vatiance).) 3. Calculate the fixed overhead volume variance for LLL. (Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (I.e.zero variance), Round fixed overhead rate to 2 decimal places.) Required: 1. Calculate the fixed overhead rate based on budgeted production for LLL. 2. Calculate the fixed overhead spending variance for LLL. 3. Calculate the fixed overhead volume variance for LLL. 4. Calculate the over-or underapplied fixed overhead for LLL. Complete this question by entering your answers in the tabs below. Calculate the over- or underapplied fixed overhead for LLL

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