Question: Casio Company uses a predetermined rate for applying overhead costs to production. The rates for Year 0 follow: variable, $1 per unit; fixed, $2 per

Casio Company uses a predetermined rate for applying overhead costs to production. The rates for Year 0 follow: variable, $1 per unit; fixed, $2 per unit. Actual overhead costs incurred follow: variable, $50,000; fixed, $90,000. Solaris expected to produce 45,000 units during the year but produced only 40,000 units.

a. What was the amount of budgeted fixed overhead costs for the year?

b. What was the total underapplied or overapplied overhead for the year?

c. Compute all possible fixed overhead variances.

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