uogeted ed overhead costs Standard machine hours per unit produced Good units produced $70,000 2.8 8,000 24,200 Actual machine hours Compute the variable overhead spending and efficiency variances and the fixed overhead budget and volume variances. Fixed Overhead Rate and Variances SE9. Point Manufacturing Company uses the standard costing method. The company's main product is a fine-quality pen that normally takes 5.1 hours to produce. Normal annual capacity is 20,000 direct labor hours, and budgeted fixed overhead costs for the year were $10,000. During the year, the company produced and sold 4,000 units. Actual fixed overhead costs were $10,200. Compute the fixed overhead rate per direct labor hour, and determine the fixed overhead budget and volume variances. Evaluating Managerial Performance SE 10, BUSINESS APPLICATION ZMT Products' controller gave the production man- ager a report containing the following information