Dawson Toys, Ltd. produces a toy called the Maze. The company has recently established a standard costing system to help control costs with the following standards for the Maze toy Direct materials: 8 microns per toy at $4.00 per micron Direct labour: 0.80 hours per toy at $15.25 per hour Variable overhead: 0.80 hours per toy at $6.25 per hour During July, the company planned to make 5,400 toys, the normal volume, and produced 5,500 Maze toys. Production data for the month on the toy follow: Direct materials: 32,940 microns were purchased for use in production at a cost of $3.90 per micron. 11,500 of these microns were still in inventory at the end of the month Direct labour: 5,400 direct labour-hours were worked at a cost of $91,800. Variable overhead cost was $35,840. and fixed overhead cost was $61,800. The budget variance for July was $0. 4. Compute the fixed overhead volume variance. (Round intermediate calculation to 3 decimal places and round your final answer to nearest whole dollar amount.) Answer is complete but not entirely correct. Fixed overhead volume $ 1,124 F variance 5. Is there over- or underapplied fixed overhead? (Round intermediate calculation to 3 decimal places and round your final answer to nearest whole dollar amount.) Answer is complete but not entirely correct. Overapplied by $ 61,800