The standard cost card for the single product manufactured by Cutter, Inc., is given below:

Standard Cost Cardper Unit
Direct materials, 5.3 yards at $4.00 per yard	$	21.20
Direct labor, .7 hours at $18.00 per hour		12.60
Variable overhead, .7 hours at $2.00 per hour		1.40
Fixed overhead, .7 hours at $4.50 per hour		3.15
Total standard cost per unit	$	38.35

Manufacturing overhead is applied to production on the basis of standard direct labor-hours. During the year, the company worked 10,700 hours and manufactured 15,000 units of product. Selected data relating to the companys fixed manufacturing overhead cost for the year are shown below

Required:

1.	What were the standard hours allowed for the years production? (Round "Standard hours per unit" to 1 decimal place.) Standard-hours Total produced last year 15,000 units Standard hours per unit 0.7 DLH per unit Standard-hours 10,500 DLHs

What was the amount of budgeted fixed overhead cost for the year?

Budgeted fixed overhead cost:__________

What was the fixed overhead budget variance for the year? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)

Budget variance

What denominator activity level did the company use in setting the predetermined overhead rate for the year? (Round "Fixed cost element of the predetermined overhead rate" to 2 decimal places.)

	Denominator Activity
Budgeted fixed overhead cost		DLHs
Fixed cost element of the predetermined overhead rate		per DLH
Denominator activity

The standard cost card for the single product manufactured by Cutter, Inc., is given below:Manufacturing overhead is applied to production on the basis of standard direct labor-hours. During the year, the company worked 10,700 hours and manufactured 15,000 units of product. Selected data relating to the companys fixed manufacturing overhead cost for the year are shown below What was the amount of budgeted fixed overhead cost for the year?Budgeted fixed overhead cost:__________What was the fixed overhead budget variance for the year? (Indicate the effect of each variance by selecting F for favorable, U for unfavorable, and None for no effect (i.e., zero variance).)