1. Use the following information to answer the question below. 
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3. 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: 
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5. Actual units produced: 10,000 
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7. Standard production time per unit: 3.8 
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9. machine hours Fixed overhead incurred: $550,000 
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11. Actual machine hours worked: 44,000 
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13. 1. Forward Venture Company’s fixed-overhead budget variance is___________.
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15. 2. Forward Venture Company’s fixed-overhead volume variance is____________.