EXERCISE 10A-7 Relations Among Fixed Overhead Variances LO10-4 Selected information relating to Yost Company's operations for the most recent year is given below: Activity: Denominator activity (machine-hours)... Actual number of units produced 45,000 Standard hours allowed per unit ... 3 14,000 $267,000 Fixed overhead budget variance... $3,000 F Costs: Actual fixed overhead costs incurred The company applies overhead cost to products on the basis of standard machine-hours. Required: 1. What were the standard machine-hours allowed for the actual number of units produced? 2. What was the total budgeted fixed overhead cost for the period? 234 3. What was the fixed portion of the predetermined overhead rate? 4. What was the fixed overhead volume variance?