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Question - The following information is available from the Terry Company:
Actual total factory overhead cost incurred $37,000
Actual fixed overhead cost incurred $11,200
Budgeted fixed overhead expenses $21,000
Actual direct labor hours (DLH) worked 8,400
Standard DLHs for this period's production (output) 4,800
Standard variable overhead rate per DLH $3.00
Standard fixed overhead rate per DLH $2.50
Required - What is the fixed overhead production volume variance for Terry Company for the period?
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