The following information relates to Osprey Limited: Budgeted production: 500 units. Standard hours per unit: 10. Actual

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The following information relates to Osprey Limited:

Budgeted production: 500 units.

Standard hours per unit: 10.

Actual production: 600 units.

Budgeted fixed overhead: £125 000.

Actual fixed overhead: £120 000.

Actual hours worked: 4900.

Required:

Calculate the following fixed production overhead variances:

1 total;

2 expenditure;

3 volume;

4 capacity; and 5 efficiency.

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