Regency Corp

Essay

Regency Corp.uses a standard cost system to account for the costs of its one product.Fixed overhead is applied to production at a rate of $27.50 per unit,based on budgeted production of 2,500 per month.During November,Regency produced 2,300 units.Fixed overhead incurred totaled $70,310.Calculate the:
a.fixed overhead spending variance.
b.fixed overhead volume variance.
c.over- or underapplied fixed overhead.