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 Standard Standard Quantity Rate manufacturing 0.6 $0.80 $0.48 overhead During August, LLL had the following actual results: Units produced and 24,700 sold Actual variable $ 9,498 overhead Actual direct labor 16,000 hours Number of units produced and sold Actual fixed overhead Standard Unit Cost Lamp Light Limited (LLL) calculates a fixed overhead rate based on budgeted fixed overhead of $51,075 and budgeted production of 22,700 units. Actual results were as follows: 24,700 $49,075 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.

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 (LL) calculates a fixed overhead rate based on budgeted fixed overhead of $51,075 and budgeted production of 22700 units. Actual results were as follows. Required: 1. Calculate the fixed overhead rate based on budgeted production for LLL 2. Calculate the foxed overhead spending variance for LLL 3. Calculate the fixed overhead volume variance for LLL