Fletcher Company collected the following data regarding production of one of its products. Compute the fixed overhead cost variance.

Direct labor standard (2hrs @ $13/hr):

$26 per finished unit

Actual direct labor hours:

93,500 hrs

Budgeted units:

48,000 units

Actual finished units produced:

46,000 units

Standard variable OH rate (2 hrs @ 15.40/hr):

$30.80 per finished units

Standard fixed OH rate ($482,300/53,000 units):

$9.10 per unit

Actual cost of variable overhead costs incurred:

$1,407,800

Actual cost of fixed overhead costs incurred:

$485,000