Skizone Company's 4-Variance Analysis:
| Spending Variance | Efficiency Variance | Production-Volume Variance |
Variable overhead | $6,900 F | $11,000 U | No variance |
Fixed overhead | (a) | No variance | $45,000 U |
Which of the following statements is true of Skizone's overhead variances?
◦ Budgeted variable overhead rate is higher than actual variable overhead rate.
◦ Static fixed overhead amount is higher than flexible fixed overhead amount.
◦ Budgeted variable overhead rate is lower than actual variable overhead rate.
◦ Static fixed overhead amount is lower than flexible fixed overhead amount.