Question: ABC Corp's budgeted variable manufacturing overhead rate is $8 per direct labor hour. Budgeted fixed overhead is $150,000 per month. During the month, actual production

ABC Corp's budgeted variable manufacturing overhead rate is $8 per direct labor hour. Budgeted fixed overhead is $150,000 per month. During the month, actual production was 10,000 units, and actual direct labor hours were 7,000. Actual variable overhead was $56,000. Calculate the total overhead variance and break it down into variable and fixed overhead variances.

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