You have been given the following information about the production of Ivanhoe Co., and are asked to provide the factory manager with information for a meeting with the vice-president of operations:

		Standard Cost Card
Direct materials (5.80 kg at $3.20 per kilogram)		$18.56
Direct labour (0.70 hours at $4.90)		3.43
Variable overhead (0.70 hours at $3.20 per hour)		2.24
Fixed overhead (0.70 hours at $6.00 per hour)		4.20
		$28.43

The following is a production report for the most recent period of operations:

				Variances
Costs		Total Standard Cost		Price/ Rate			Spending/ Budget			Quantity/ Efficiency			Volume
Direct materials		$356,352		$5,714	F					$9,344	U
Direct labour		65,856		3,695	U					6,566	U
Variable overhead		43,008					$1,070	F		?
Fixed overhead		80,640					500	F					$11,820	U

What was the actual variable overhead cost incurred during the period?

Actual variable overhead

$enter the actual variable overhead in dollars

What is the total fixed overhead cost in the companys master budget?

Budgeted fixed cost

$enter the budgeted fixed cost in dollars

What were the master budget hours for fixed overhead?

Master budget hours

hours