Gibson Inc. has a standard cost system in which manufacturing overhead is applied on the basis of standard machine-hours. The company has provided the following data concerning its manufacturing overhead costs for last year: Actual machine-hours 11,500 hours Standard machine-hours 12,000 hours Denominator activity 10,000 hours Actual fixed manufacturing overhead costs $308,000 Budgeted fixed manufacturing overhead costs $300,000 The fixed manufacturing overhead budget variance was: O A. $8,000 favorable O B. $8,000 unfavorable O C. $60,000 unfavorable O D. $60,000 favorable