Use the Following Data to Determine the Company's Fixed Overhead

question 23

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Use the following data to determine the company's fixed overhead volume variance for March.
A. $10 000 overapplied
B. $10 000 underapplied
C. $20 000 overapplied
D. $20 000 underapplied

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Definitions:

Job Cost

The total expense calculated for a specific job or project, including materials, labor, and overhead.

Unit Product Cost

The total cost to produce one unit of product, including labor, materials, and overhead.

Predetermined Overhead Rate

A rate calculated prior to the accounting period that is used to allocate overhead costs to products or job orders, based on estimated overhead costs and an allocation base.

Job-Order Costing

A cost accounting system that accumulates costs according to specific jobs or orders, allowing for detailed cost tracking.