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For the year 2020, KIKO Ltd budgeted to produce 15,000 units of...

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Accounting

For the year 2020, KIKO Ltd budgeted to produce 15,000 units of its product, KITO, and to
use 30,000 machine hours (that is 2 machine hours per unit of KITO). The company allocates
both variable and fixed manufacturing overhead costs using machine hours. Variable
manufacturing overhead costs were budgeted at $10 per machine hour, and total budgeted
fixed manufacturing costs were $600,000.
Actual results for the year 2020 were:
Q31. The production volume variance is:
$6,400F
$40,000F
$40,000U
$6,400U
$33,600U
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