Question 16 (2 points) Stevenson Corp. produces a lawn and garden product called Fast Grow. The direct materials and direct labour standards for one unit of FastGrow follow: Standard Quantity Standard Price Standard or Hours or Rate Cost Direct materials 4.2 kilograms $ 2 per kilogram $ 8.40 Direct labour 0.4 hour $ 12 per hour 4.80 Variable overhead 0.4 hour $ 2 per hour 0.80 The budgeted fixed overhead cost is $15,800 per month. The denominator activity level of the allocation base is 800 direct labour-hours. During the most recent month, the following activity was recorded: a. 9,000 kilograms of material were purchased at a cost of $2.20 per kilogram. b. All of the material purchased was used to produce 2,000 units of Zoom. c. A total of 850 hours of direct labour time was recorded at a total labour cost of $9,265. d. The variable overhead cost was $1,650, and the fixed overhead cost was $15,890. Required: Calculate the fixed overhead budget and the volume variances for the month. Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)