Fixed Overhead Budget and Volume Variance Four-Leaf Clover Company assigns fixed overhead costs to inventory for external reporting purposes by using a predetermined standard overhead rate based on direct labor hours. The standard rate is based on a normal activity level of 30,000 standard allowed direct labor hours per year. There are five standard allowed hours for each unit of output. Budgeted fixed overhead costs are $420,000 per year. During the prior year, the company produced 5,800 units of output, and actual fixed costs were $425,000. Required a. Determine the standard fixed overhead rate used to assign fixed costs to inventory. $ 0 per direct labor hour b. Determine the amount of fixed overhead assigned to inventory during the year. $ 0 c. Determine the fixed overhead budget variance. Note: Do not use a negative sign with your answer. $ 0