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Determine what was the fixed overhead volume variance

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Reference no: EM132587090

Jessep Corporation has a standard cost system in which manufacturing overhead is applied to units of product on the basis of direct labour hours.

The company has provided the following data concerning its fixed manufacturing overhead costs in March:

Denominator Hours 15,000 hours

Actual Hours Worked 14,000 hours

Standard Hours Allowed for the Output 12,000 hours

Flexible Budget Fixed Overhead Cost $45,000

Actual Fixed Overhead Costs $48,000

Question 1: What was the fixed overhead volume variance?

Reference no: EM132587090

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