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Longford Company uses standard costing. Its product normally takes 0.01 DLH per unit and it expects to produce 100,000 units of the product. The company

Longford Company uses standard costing. Its product normally takes 0.01 DLH per unit and it expects to produce 100,000 units of the product. The company budgeted $40,000 for fixed overhead. During the year, the company produced and sold 120,000 units and had $40,500 in actual overhead. What is Longford's fixed overhead budget variance? (Your answer should be numerical with no parentheses or alphabetical characters).

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