Monty Manufacturing builds playground equipment that it sells to elementary schools and municipalities. Monty's management has contracted you to perform a variance analysis on the fixed manufacturing overhead for its line of slides. Monty's cost accounting team informs you that it allocates fixed overhead based on machine hours. This period production was budgeted at 35 slides. Budgeted and actual production data follows: Standard fixed overhead cost per machine hour Standard machine hours per slide Actual production Actual fixed overhead cost $18,425 unfavorable B. $15,975 unfavorable C. $15,975 favorable $5.00 What is the fixed manufacturing overhead volume variance in this period? A. D. $18,425 favorable 9 390 $20,000

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Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.