fixed overhead rate computation when determining the fixed factory overhead volume variance. Enter favorable variances as negative numbers.) Standard: 5 yards per unit at $6.30 per yard Actual yards used: 44,500 yards at $6.25 per yard Standard: 2.00 hours per unit at $15.00 Actual hours worked: 17,350 at $14.90 per hour Standard: variable overhead $1.05 per unit Standard: fixed overhead $202,400 (budgeted and actual amount) Actual total factory overhead: $238,000 Baxter Company Income Statement Through Gross Profit For the Year Ended December 31 Sales Cost of goods sold-at standard Gross profit-at standard Unfavorable Favorable Less variance adjustments to gross profit-at standard: Direct materials price $ Direct materials quantity $ Direct labor rate Direct labor time Factory overhead controllable Factory overhead volume Net variance from standard cost-unfavorable Gross profit fixed overhead rate computation when determining the fixed factory overhead volume variance. Enter favorable variances as negative numbers.) Standard: 5 yards per unit at $6.30 per yard Actual yards used: 44,500 yards at $6.25 per yard Standard: 2.00 hours per unit at $15.00 Actual hours worked: 17,350 at $14.90 per hour Standard: variable overhead $1.05 per unit Standard: fixed overhead $202,400 (budgeted and actual amount) Actual total factory overhead: $238,000 Baxter Company Income Statement Through Gross Profit For the Year Ended December 31 Sales Cost of goods sold-at standard Gross profit-at standard Unfavorable Favorable Less variance adjustments to gross profit-at standard: Direct materials price $ Direct materials quantity $ Direct labor rate Direct labor time Factory overhead controllable Factory overhead volume Net variance from standard cost-unfavorable Gross profit