Corey Company provided the following information:

Standard fixed overhead rate (SFOR) per direct labor hour....................$10.00

Actual fixed overhead.............................................................$425,000

Budgeted fixed overhead..........................................................$500,000

Actual production in units...............................................................8,500

Standard hours allowed for actual units produced (SH) .........................42,500

Required:

1. Using the columnar approach, calculate the fixed overhead spending and volume variances.

2. Using the formula approach, calculate the fixed overhead spending variance.

3. Using the formula approach, calculate the fixed overhead volume variance.

4. Calculate the total fixed overhead variance.