5. Ralph Co. uses a standard costing system. The standard fixed overhead cost is $4 per direct labor based on budgeted fixed costs of $400,000. The standard allows two direct labor hours per unit. During the year, the company produced 110,000 units of product, incurred $630,000 fixed overhead costs. The actual direct labor hours were 212,000. What is the fixed overhead volume variance? 3. Ralph company manufactures three products from a joint process totaling 10,000 units at a joint cost of $320,000. P1 P2 Units 2,000 3,000 5,000 Further processing costs 0 0 $25,000 Final sales value $110,000 $120,000 $300,000 P3 (1) Allocate the joint costs to the three products using net realizable value method. (2) Allocate the joint costs to the three products using constant gross margin percentage method