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Lossing Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and actual overhead costs for the most recent month appear below:
Lossing Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and actual overhead costs for the most recent month appear below:
Original Budget | Actual Costs | |
---|---|---|
Variable overhead costs: | ||
Supplies | $ 7,500 | $ 7,690 |
Indirect labor | 10,690 | 10,040 |
Fixed overhead costs: | ||
Supervision | 15,310 | 14,460 |
Utilities | 14,600 | 14,650 |
Factory depreciation | 59,340 | 60,140 |
Total overhead cost | $ 107,440 | $ 106,980 |
The company based its original budget on 7,500 machine-hours. The company actually worked 7,460 machine-hours during the month. The standard hours allowed for the actual output of the month totaled 7,390 machine-hours. What was the overall fixed manufacturing overhead volume variance for the month?
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