Acme manufacturing is a low-cost producer of a single, commodity product: rgl-01. standard overhead cost information for one unit of this product is presented below: standard number of machine hours per unit produced 0.5standard variable overhead rate per machine hour $ 30.00budgeted fixed overhead (for the year) $ 620,000practical capacity, in units (annual basis) 10,000budgeted output for the coming year, in units 8,000normal capacity, in units (per year) 9,000actual production for the year (in units) 9,200actual overhead costs incurred during the year: fixed overhead $ 595,200variable overhead $ 149,000actual number of machine hours per unit for work done this period 0.49required: 1. calculate the fixed overhead application rate per machine hour using (a) budgeted output, (b) normal capacity, and (c) practical capacity. (round your answers to 2 decimal places.)2. what is the total overhead application rate per machine hour for each of the three choices identified in requirement 1? (round your answers to 2 decimal places.)3. what is the total overhead variance for the year when the overhead application rate per machine hour is determined under each of the following options: (a) budgeted output, (b) normal capacity, and (c) practical capacity? indicate whether each variance is favorable (f) or unfavorable (u). (do not round intermediate calculations. round your answers to the nearest whole dollar amount.)