Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours. Information from LLL's standard cost card follows: Variable manufacturing overhead Standard Standard Standard Quantity Rate Unit Cost 0.6 $0.80 During August, LLL had the following actual results: 25,500 Units produced and sold Actual variable overhead $ 9,490 Actual direct labor hours 16,000 Lamp Light Limited (LLL) calculates a fixed overhead rate based on budgeted fixed overhead of $78,750 and budgeted production of 22,500 units. Actual results were as follows: Number of units produced and sold Actual fixed overhead $0.48 25,500 $ 75,750 Required: 1. Calculate the fixed overhead rate based on budgeted production for LLL. 2. Calculate the fixed overhead spending variance for LLL. 3. Calculate the fixed overhead volume variance for LLL. 4. Calculate the over- or underapplied fixed overhead for LLL.

Lamp Light Limited (LLL) manufactures lampshades, It applies variable overhead on the basis of direct labor hours. Information from LLL's standard cost card follows: During August, LLL had the following actual results: Lamp Light Limited (LLL) calculates a fixed overhead rate based on budgeted fixed overhead of $78,750 and budgeted production of 22,500 units. Actual results were as follows: Required: 1. Calculate the fixed overhead rate based on budgeted production for LLL. 2. Calculate the fixed overhead spending variance for LLL. 3. Calculate the fixed overhead volume variance for LLL. 4. Calculate the over-or underapplied fixed overhead for LLL