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Q.

JBG Ltd. budgets for fixed overhead of Rs. 24,000 and production of 4,800 units. Actual production is 4,200 units and fixed overhead cost incurred is Rs. 22,000. The fixed volume variance is:

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a

Rs. 3,000 (A)

b

Rs. 2,000 (F)

c

Rs. 1,000 (A)

d

Rs. 3,000 (F)

answer is A.

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Detailed Solution

The Fixed Overhead Volume Variance is the difference between the amount of fixed overheads actually applied to produced goods based on production volume and the amount that was budgeted to be applied to produced goods.
Fixed Overhead Volume Variance = Budgeted FOH on Actual Production - Actual FOH
Budgeted Fixed Overheads Per units = Rs.

\frac{24000}{4800}

Units = Rs.5 per unit
Budgeted Fixed Overheads on Actual Production = Rs. 5

\times

4200 Units = Rs.21000
Fixed Overheads Volume Variance = Rs.21000 - Rs.24000 = Rs.3000

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