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Evening Star Company uses a standard cost accounting system and applies production overhead to products on the basis of machine hours.The following information is available

Evening Star Company uses a standard cost accounting system and applies production overhead to products on the basis of machine hours.The following information is available for the most recent month:

Machine-hour standard: Two machine hours perunit

Standard fixed overhead rate: $20 per machine hour

Actual production: 15,000 units

Over-applied fixed overhead: $30,000

Fixed overhead budget variance: $50,000 favorable

The budgeted fixed overhead and the fixed overhead volume variance, respectively, are

$620,000 and -$20,000

$680,000 and $80,000

$650,000 and $50,000

$620,000 and $20,000

$650,000 and -$50,000

$680,000 and -$80,000

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