Prepare a T-account that for Fixed Manufacturing Overhead based on Absorption costing that shows: actual costs, applied costs, rate variance and production volume variance (this account should be at zero at year-end)

Beginning Inventory (Units) Sales (Units) Manufactured (Units) Selling Price (S/unit) Variable Manufacturing Cost ($/unit) Total Fixed Manufacturing Costs ($) Variable Selling Cost ($/unit) Total Fixed SG&A Costs ($) Prior Year (Budget) 0 600,000 600,000 9.99 4.92 1,584,000 1.00 350,000 Prior Year (Actual) 0 580,000 590,000 9.90 4.92 1,561,000 1.01 353,000 Current Year (Budget) ? 575,000 640,000 9.95 4.95 1,619,200 0.99 352,850 Current Year (Actual) ? 570,000 610,000 10.00 4.95 1,599,531 1.00 348,000 Other information: The manufacturer uses FIFO The manufacturer uses Standard Costing