The standard cost card for the single product manufactured by Cutter, Incorporated, is given below: Inputs Direct materials Direct labor Variable overhead Fixed overhead Total standard cost per unit ces (1) Standard Quantity or Hours 4.6 yards 0.9 hours 0.9 hours 0.9 hours (2) Standard Price or Rate $5.00 per yard $ 16.00 per hour Standard Cost (1) x (2) $ 23.00 14.40 $ 3.00 per hour 2.70 $ 6.00 per hour 5.40 $ 45.50 Manufacturing overhead is applied to production on the basis of standard direct labor-hours. During the year, the company worked 10,190 hours and manufactured 11.100 units of product. Selected data relating to the company's fixed manufacturing overhead cost for the year are shown below: Actual Fixed Overhead Budgeted Fixed Overhead $52,800 Budget variance, S? Fixed Overhead Applied to Work in Process 7 hours $2 per hour - $7 Volume variance, $8,340 F