Canel Incorporated makes a single product--an electrical motor used in many long-haul trucks.The company has a standard cost system in which it applies overhead to this product based on the standard machine-hours allowed for the actual output of the period.Data concerning the most recent year appear below: 
Required:
a.Determine the fixed overhead budget variance for the year.
b.Determine the fixed overhead volume variance for the year.
Definitions:
Three-step Writing Process
A method of writing that includes planning, drafting, and revising/editing.
Design
The process of creating and planning the aesthetic and functional aspects of a product, structure, or system.
Planning Phase
The initial stage in a project or process where objectives are defined, and strategies are developed to achieve them.
Three-step Writing Process
A method consisting of planning, writing, and completing to efficiently create written communications.
Q26: Whitmer Corporation is working on its direct
Q51: The ending balance in the Retained Earnings
Q106: When the direct labor cost is recorded,
Q115: Raimondo Corporation makes one product and has
Q138: Trumbauer Incorporated makes a single product--an electrical
Q194: Murie Corporation makes one product and has
Q202: Laizure Clinic uses patient-visits as its measure
Q256: WV Construction has two divisions: Remodeling and
Q339: The variable overhead rate variance is:<br>A)$1,000 Favorable<br>B)$1,000
Q437: The labor efficiency variance for the month