Help Save & Exit Submit Two Little Chipmunks, Inc. produces a single product and uses a standard costing system applying manufacturing overhead based on standard machine-hours allowed for actual output. At the end of the year, the company reported results below for fixed manufacturing overhead (FMOH): FMOH budget variance FMOH volume variance $1,038 Unfavorable $2,013 Favorable Which of the following statements is true regarding FMOH? Multiple Choice It was underapplied by $975. C ) It was overapplied by $975. it was overapplied by $3,051