Question: XYZ Corp's budgeted variable manufacturing overhead rate is $40 per direct labor hour. Budgeted fixed overhead is $800,000 per month. During the month, actual production

XYZ Corp's budgeted variable manufacturing overhead rate is $40 per direct labor hour. Budgeted fixed overhead is $800,000 per month. During the month, actual production was 40,000 units, and actual direct labor hours were 30,000. Actual variable overhead was $480,000. Calculate the total overhead variance and break it down into variable and fixed overhead variances.

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