The standard factory overhead rate is $7.50 per machine hour ($6.20 for variable factory overhead and $1.30 for fixed factory overhead) based on 100% of normal capacity of 80,000 machine hours. The standard cost and the actual cost of factory overhead for the production of 15,000 units during August were as follows: 
-Incurring actual indirect factory wages in excess of budgeted amounts for actual production results in a _____ variance.
Definitions:
Call Option
A call option is a financial contract that gives the holder the right, but not the obligation, to buy an asset at a predetermined price within a specific time period.
Call Option Contracts
Financial contracts that give the buyer the right, but not the obligation, to buy a stock, bond, commodity, or other assets at a specified price within a specific time period.
Strike Price
The fixed price at which the holder of an option can buy (call option) or sell (put option) the underlying security or commodity.
Market Value
Market value refers to the current price at which an asset or a company can be bought or sold on the open market.
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