Forward Venture Company, which uses a standard cost system, budgeted $656,000 of fixed overhead when 41,000 machine hours were anticipated. Other data for the period were: Actual units produced: 12,000 Standard production time per unit: 3.3 machine hours Fixed overhead incurred: $696,000 Actual machine hours worked: 45,000 Forward Venture Company's fixed-overhead budget variance is: Multiple Choice $12,000 favorable. $22,400 favorable $22,400 unfavorable. $40,000 favorable. d $40.000 unfavorable