Determining the standard fixed factory overhead cost applied to production for a period involves all the following essential elements except: Multiple Choice The total budgeted fixed overhead cost for the period. An assumed output level, as reflected by the quantity of the cost driver for applying the fixed overhead (i. e., the denominator activity level for the period). The actual amount of fixed overhead cost incurred during the period. A cost driver (or drivers) for applying the fixed overhead. The standard fixed overhead application rate.