See Clear Company calculates a fixed overhead rate based on budgeted fixed overhead of $192,000 and budgeted production of 600,000 units. Actual results were as follows:
Number of units produced and sold .... 628,000
Actual fixed overhead ........ $195,000
Calculate the following for See Clear:
1. Fixed overhead rate based on budgeted production.
2. Fixed overhead spending variance.
3. Fixed overhead volume variance.
4. Over- or under-applied fixed overhead.