Hilo Corporation applies fixed overhead at the rate of $3.30 per unit. Budgeted fixed overhead was $407,160.

Question:

Hilo Corporation applies fixed overhead at the rate of $3.30 per unit. Budgeted fixed overhead was $407,160. This month 128,000 units were produced, and actual overhead was $390,660.

Required

What are the fixed overhead price and production volume variances for Hilo?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...