Selected information relating to Yost Company’s operations for the most recent year is given below:Activity:Denominator activity (machine-hours) .......... 45,000Standard hours allowed per unit ................... 3Number of units produced ............................. 14,000Costs:Actual fixed overhead costs incurred ............ $267,000Fixed overhead budget variance ................... $3,000 FThe company applies overhead cost to products on the basis of standard machine-hours.Required:1. What were the standard machine-hours allowed for the actual production?2. What was the fixed portion of the predetermined overhead rate?3. What was the volume variance?

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