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Assume that $102,000 is budgeted for fixed overhead. $95,000 was actually spent on fixed overhead....

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Accounting

Assume that $102,000 is budgeted for fixed overhead. $95,000 was actually spent on fixed overhead. Fixed overhead is applied to production at $10 per labor hour, and the achieved output was 5,000 units. The standard labor hours are 2 hours per unit.

The total fixed overhead variance is $2,000 favorable.

All of these choices are correct.

The fixed overhead spending variance is $7,000 favorable.

The fixed overhead volume variance is $5,000 unfavorable.

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