Variance questions

X 1 - Intermediate Managerial Accounting I (2020/2021 Fall Term (1201)) ABC Company manufactures widgets. Both variable and fixed overhead are allocated to widgets produced using machine hours. The actual units produced for March was 1,900 widgets. Budgeted production in units was 2,000 widgets. The following data is available for March: Variable overhead: Standard (budgeted) Variable overhead rate per hour: $8 per machine hour Standard (budgeted) machine hours per unit 0.6 machine hours Actual total variable overhead costs $9,450 Actual machine hours used .220 Fixed overhead: Standard (budgeted) machine hours per unit 0.6 machine hours Total Budgeted Fixed Overhead (Static Budget) $45,600 Fixed Overhead rate variance $3,000 favourable Question #18 - The Fixed Overhead Spending (Rate) Variance is Select one: O a. $3,000 U O b. $2,280 U O c. $3,000 F O d. $2,280 F Next page