Fixed Overhead Variances Tazer Inc. summarized the following production information for the most recent year. Budgeted fixed overhead costs in total $62,400 Budgeted direct labor hours 5,200 Budgeted direct labor hours per unit 0.50 Actual fixed overhead costs in total $68,900 Actual output of final units 9,900 Required If fixed manufacturing overhead is applied on the basis of direct labor hours, compute (a) the fixed overhead budget variance and (b) the fixed overhead volume variance. Indicate whether each variance is favorable or unfavorable. Note: Do not use any negative signs with your answers. (a) Fixed overhead budget variance: $ 6,500 Unfavorable * (b) Fixed overhead volume variance: $ Unfavorable + Correct