! Required information [The following information applies to the questions displayed below.] AirPro Corporation reports the following for this period. Actual total overhead Standard overhead applied Budgeted (flexible) variable overhead rate Budgeted fixed overhead Predicted activity level Actual activity level Answer is complete but not entirely correct. Volume Variance $ Budgeted (flexible) overhead Standard overhead applied Volume variance $ 28,725 $ 32,860 34,660 32,860 1,800 Unfavorable $ 2.10 per unit Compute the volume variance and identify it as favorable or unfavorable. $ 11,500 11,500 units 10,600 units

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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.