Fixed overhead was budgeted at $84,000 and 10,000 direct labor hours were budgeted. If the fixed overhead volume variance was $3,20 unfavorable and the fixed overhead spending variance was $1,200 favorable, fixed overhead applied must be $85,200.$80,800.$82,800.$82,000$87,200 QUESTION 23 All of the following are true regarding variance investigation except the investigation should be undertaken only if the anticipated benefits are greater than the expected costs. managers must consider whether a variance will recur. it is difficult to assess the costs and benefits of variance analysis on a case-by-case basis. variances are not investigated unless they are large enough to be of a concern. every variance is investigated. QUESTION 24 If the actual labor rate exceeds the standard labor rate and the actual labor hours exceed the number of hours allowed, the labor rate variance and labor efficiency variance will be