Mustang Company utilizes a standard costing system and uses drect labor hours as its cost driver with respect to factory overh The standard cost card for the company's only product is as follows: Inputs Direct materials Standard Quantity Standard Price or Standard Cost $16.00 30.00 or Hours Rate 20 pounds $8.00 per pound 15 hours $2000 per hour 1.5 hours $100 per hour Direct labor Variable manufacturing overhead Fixed manufacturing 1.50 750 $55.00 1.5 1.5 hours $5.00 per hour Total standard cost per unit Data concerning the most recent year is as follows Planning budget- units of product to be produced 2,000 Planning budget-direct labor hours (denominator level of activity) Budgeted variable manufacturing overhead 3,000 $3000 Budgeted variable manufacturing overhead Budgeted fixed manufacturing overhead Actual number of units produced Actual direct labor-hours Actual variable overhead cost for the year Actual fixed overhead cost for the year $3,000 $15,000 2,100 3,050 $2,800 $14,800 Compute Mustang Company's fixed OH volume variance for the year Multiple Cholce $1125 U Compute Mustang Company's fixed OH volume variance for the year Multiple Choice $1,125 U 54 $1,125 F $750 U $750 F