5.18 Example: fixed overhead variances Suppose that a company budgets to produce 1,000 units of product E during August. The expected time to produce a unit of E is five hours, and the budgeted fixed overhead is Rs.20,000 The standard fixed overhead cost per unit of product E will therefore be 5 hours at Rs.4 per hour (= Rs.20. per unit). Actual fixed overhead expenditure in August turns out to be Rs.20,450. The labour force manages to produce 1,100. units of product E in 5,400 hours of work. Required Calculate the fixed overhead total variance and its sub-variances." 81104504