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Croissant Company's Standard Fixed Overhead Cost Is $6 Per Direct

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Croissant Company's standard fixed overhead cost is $6 per direct labor hour based on budgeted fixed costs of $600,000. The standard allows one direct labor hour per unit. During 2016, Crawford produced 110,000 units of product, (within the relevant range of activity) incurred $630,000 of fixed overhead costs, and recorded 212,000 actual hours of direct labor.
What is Croissant's fixed overhead spending variance for 2016?

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Definitions:

Net Income

The amount of total revenues minus total expenses, representing the profit a company has generated over a specific period.

Bonus

Additional compensation given to employees or executives beyond their regular salary, often as a reward for achieving certain performance targets.

Pre-bonus Income

The total revenue or profit earned by an individual or entity before any bonuses are issued or calculated.

Partnership Income

The earnings distributed to partners of a partnership based on the terms of the partnership agreement.

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