What is the fixed overhead spending variance? Multiple Choice
1)The difference between the flexible budget for variable overhead based on inputs and the flexible budget for variable overhead based on outputs
2)The difference between actual fixed overhead costs for the period and the standard fixed overhead costs applied to production based on a standard fixed overhead application rate.
3)The difference between budgeted (lump-sum) fixed overhead cost for the period and the standard fixed overhead cost applied to production
4)The difference between budgeted and actual fixed factory overhead costs for a period. The output activity level used to establish the predetermined fixed overhead application rate.
