ABC Company's production budget for March is 32,000 units. Budgeted fixed overhead is $64,000. ABC's standard fixed overhead application rate is $2 per machine hour and each unit is allowed a standard of 1 hour of machine time. Actual fixed overhead for March is $67,000. Actual production in March is 36,000 units.Calculate the fixed overhead volume variance for March:Fixed overhead volume variance = $.Use F or U to identify the variance as Favorable or Unfavorable: .

ABC Company incurred $124,000 of manufacturing overhead in March and applied $120,000 to March production. If ABC produced 16,000 units during March, its predetermined overhead rate being used for the year is $ per unit.

ABC Company's production budget for October is based on 500 units. Standard unit cost for variable overhead is $25 per unit ($5 per hour x 5 hours per unit). ABC's actual production in October = 525 units. The actual cost of variable overhead = $18,900 ($6 per hour x 6 hours per unit).Calculate the variable overhead spending variance for October:Variable overhead spending variance = $.Use F or U to identify the variance as Favorable or Unfavorable: .

ABC Company uses a predetermined overhead rate of $10 per direct labor hour. Actual manufacturing overhead incurred during October amounted to $35,000 when ABC worked 3,200 direct labor hours. At the end of October, the Manufacturing overhead account has a balance of $ that is (underapplied/overapplied).

ABC Company's production budget for October is based on 500 units. Standard unit cost for direct labor is $100 per unit ($20 per hour x 5 hours per unit). ABC's actual production in October = 525 units. The actual cost of direct labor = $56,700 ($18 per hour x 6 hours per unit).Calculate the direct labor rate variance for October:Direct labor rate variance = $.Use F or U to identify the variance as Favorable or Unfavorable: .

ABC Company uses machine hours to apply manufacturing overhead to units produced. If ABC estimates that it will generate 560,000 machine hours and incur $6,720,000 in manufacturing overhead costs during the year, its predetermined overhead application rate will be $ per hour.