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% 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: 
What is the amount of the factory overhead volume variance?
Definitions:
Economies of Scope
Cost advantages that enterprises obtain through the variety of products rather than through a high volume of a single product.
Cost Function
A mathematical relationship describing how production costs change with changes in the quantity of output produced.
Economies of Scope
Economies of scope occur when it is more cost-effective for a company to produce two or more products together rather than separately.
Cost of Producing
The total expenditure incurred in manufacturing a product or providing a service, including materials, labor, and overheads.
Q26: Hill Co. can further process Product O
Q32: Fixed costs are $50 per unit and
Q37: Crystal Company manufactures two models of microcassette
Q39: The Trumpet Company produced 8,700 units of
Q81: A business is considering a cash outlay
Q91: Supervisor salaries, maintenance, and indirect factory wages
Q102: Pheasant Co. can further process Product B
Q169: ABC Corporation has three service departments with
Q173: Operating expenses directly traceable to or incurred
Q187: The DuPont formula uses financial and nonfinancial