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Determine the fixed overhead budget variance

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Question - Fixed Overhead Variances

Assume that ExxonMobil uses a standard cost system for each of its refineries. For the Houston refinery, the monthly fixed overhead budget is $8,800,000 for a planned outputs of 5,000,000 barrels. For September, the actual fixed cost was $9,450,000 for 5,100,000 barrels.

a. Determine the fixed overhead budget variance.

b. If fixed overhead is applied on a per-barrel basis, determine the volume variance.

Reference no: EM132604125

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