The following information is presented for the Oddo Manufacturing Company. Standard fixed manufacturing overhead rate is

Question:

The following information is presented for the Oddo Manufacturing Company.

• Standard fixed manufacturing overhead rate is $$2$ per direct labor hour.

• Direct labor efficiency standard is four hours per finished unit.

• Budgeted production is 2,500 finished units.

• Budgeted fixed manufacturing overhead is $20,000.

• Actual fixed manufacturing overhead cost was $17,750.

• 2,150 finished units of product were produced.

Required:

a. Determine the fixed manufacturing overhead budget variance.

b. Determine the fixed manufacturing overhead volume variance in dollars.

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