Burkett Company uses a standard cost system. Overhead costs were budgeted at $200,000 plus $15 per direct labour hour. The overhead rate is based on 10,000 hours. Actual results were: 1. The over- or underapplied overhead was: $60,000 under

2. The fixed overhead production volume variance was: $20,000 U

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9,000 10,000 $190,000 $185,000 Standard direct labour hours Actual direct labour hours Fixed overhead Variable overhead