Cannon Company's Standard Fixed Overhead Cost Is $5 Per Direct

Multiple Choice

Cannon Company's standard fixed overhead cost is $5 per direct labour hour on the basis of budgeted fixed costs of $500,000. The standard allows one direct labour hour per unit. During the current year, Cannon produced 110,000 units of product, incurred $550,000 of fixed overhead costs, and recorded 212,000 actual hours of direct labour.
-Refer to the Figure.What is Cannon's fixed overhead spending variance for the current year?

A) $24,000 (F)
B) $30,000 (U)
C) $50,000 (U)
D) $60,000 (F)