Calculating the Fixed Overhead Spending and Volume Variances

Standish Company manufactures consumer products and provided the following information for the month of February:

Units produced 127,500 Standard direct labor hours per unit 0.2 Standard fixed overhead rate (per direct labor hour) $2.20 Budgeted fixed overhead $64,400 Actual fixed overhead costs $68,300 Actual hours worked 26,700

Required:

1. Fixed Overhead Spending Variance

2. Volume Variance