The Parco Company applies manufacturing overhead costs to products on the basis of direct labor-hours. The standard cost card shows that 12 direct labor-hours are required per unit of product. For August, the company budgeted to work 360,000 direct labor-hours and to incur the following total manufacturing overhead costs:
| Total variable overhead costs | $396,000 |
| Total fixed overhead costs | $475,200 |
During August, the company completed 28,000 units of product, worked 344,000 direct labor-hours, and incurred the following total manufacturing overhead costs:
| Total variable overhead costs | $395,600 |
| Total fixed overhead costs | $461,200 |
The denominator activity in the predetermined overhead rate is 360,000 direct labor-hours. What is the fixed overhead budget variance for August?
