The formula for calculating the fixed overhead volume variance is:

• A. Budgeted fixed expenditure less (actual hours x actual production x fixed overhead absorption rate)
• B. Budgeted fixed expenditure less (actual hours x fixed overhead absorption rate)
• C. Actual fixed overhead less (standard hours x actual production x fixed overhead absorption rate)
• D. Budgeted fixed expenditure less (standard hours x actual production x fixed overhead expenditure variance)