SHOW ALL YOUR WORKS FOR YOUR CALCULATION: Calculate "Std. fixed overhead cost allocated to production and Fixed MOH volume variance Now determine the formula for the fixed overhead volume variance, then calculate the volume variance. (Enter the result as a positive number. Label the variance as favorable (F) or unfavorable (U).) Fixed MOH Budgeted fixed overhead Std. fixed overhead cost allocated to production - volume variance 628,000 F The company allocates manufacturing overhead based on direct labor hours. Armstrong has budgeted fixed manufacturing overhead for the year to be $628,000. The predetermined fixed manufacturing overhead rate is $17.00 per direct labor hour, while the standard variable manufacturing overhead rate is $0.90 per direct labor hour. The direct labor standard for each case is one-quarter (0.25) of an hour. The company actually processed 152,000 cases of frozen organic fruits during the year and incurred $677,760 of manufacturing overhead. Of this amount, $632,000 was fixed. The company also incurred a total of 41,600 direct labor hours