You have been given the following information about the production of Vaughn 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 (5.00 kg at $3.20 per kilogram) $16.00 Direct labour (0.60 hours at $4.00) 2.40 Variable overhead (0.60 hours at $3.20 per hour) 1.92 Fixed overhead (0.60 hours at $7.00 per hour) 4.20 $24.52 The following is a production report for the most recent period of operations: Variances Total Standard Cost Spending/ Budget Quantity/ Efficiency Costs Price/ Rate Volume Direct materials $321,600 $5,175 F $9,600 U Direct labour 48,240 3,355 U 5,440 U Variable overhead 38,592 $1.180 F ? Fixed overhead 84,420 480 F $13,580U What was the actual variable overhead cost incurred during the period? Actual variable overhead $ What is the total fixed overhead cost in the company's master budget? Budgeted fixed cost $ What were the master budget hours for fixed overhead? Master budget hours hours