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Fixed Overhead Volume Variance and Capacity Utilization : Given budgeted fixed overhead of $120,000, standard hours allowed for actual production of 2,800 hours, and budgeted

  1. Fixed Overhead Volume Variance and Capacity Utilization: Given budgeted fixed overhead of $120,000, standard hours allowed for actual production of 2,800 hours, and budgeted hours of 3,000 hours, calculate the fixed overhead volume variance. Discuss what this variance indicates about capacity utilization and production efficiency.

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