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Lihue, Inc., applies fixed overhead at the rate of $3.20 per unit. Budgeted fixed overhead was $1,129,920. This month 343,100 units were produced, and actual

Lihue, Inc., applies fixed overhead at the rate of $3.20 per unit. Budgeted fixed overhead was $1,129,920. This month 343,100 units were produced, and actual overhead was $1,110,000.

Required:

a. What are the fixed overhead price and production volume variances for Lihue?

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