Selected information relating to Yost Company’s operations for the most recent year is given below:

The company applies overhead cost to products on the basis of standard machine-hours.

Required:

1.          What were the standard machine-hours allowed for the actual production?

2.         What was the fixed portion of the predetermined overhead rate?

3.         What was the volume variance?

Activity: Denominator activity (machine-hours) Standard hours allowed per unit Number of units produced 45,000 3 14,000 Costs: Actual fixed overhead costs incurred S267,000 Fixed overhead budget variance $3,000 F