Selected information relating to Yost Company's operations for the most recent year is given below: Activity: Denominator activity (machine-hours) Standard hours allowed per unit Actual number of units produced Costs: Actual fixed overhead costs incurred Fixed overhead budget variance 20,300 2.5 8,000 $ $ 86,000 1,290 F The company applies overhead cost to products on the basis of standard machine-hours. Required: 1. What were the standard machine-hours allowed for the actual number of units produced? 2. What was the total budgeted fixed overhead cost for the period? 3. What was the fixed portion of the predetermined overhead rate? (Round "Predetermined overhead rate" to 2 decimal place.) 4. What was the fixed overhead volume variance? (Indicate the effect of variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) MHS 1. Standard machine-hours allowed for the actual number of units produced 2. Budgeted fixed overhead cost 3. Fixed portion of the predetermined overhead rate 4. Fixed overhead volume variance per MH