Question: Use the following information to answer question below. Forward Venture Company, which uses a standard cost system, budgeted $500,000 of fixed overhead when 40,000 machine

Use the following information to answer question below. Forward Venture Company, which uses a standard cost system, budgeted $500,000 of fixed overhead when 40,000 machine hours were anticipated. Other data for the period were: Actual units produced: 10,000 Standard production time per unit: 3.8 machine hours Fixed overhead incurred: $550,000 Actual machine hours worked: 44,000 1. Forward Venture Companys fixed-overhead budget variance is: 2. Forward Venture Companys fixed-overhead volume variance is

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