A) The Maxit Corporation has a standard costing system in which variable manufacturing overhead is...

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Accounting

A) The Maxit Corporation has a standard costing system in which variable manufacturing overhead is assigned to production on the basis of standard machine-hours. The following data are available for July:* Actual variable manufacturing overhead cost incurred: $24,820* Actual machine-hours worked: 2,600 hours* Variable overhead rate variance: $4,920 U* Total variable overhead spending variance: $6,820 UThe variable overhead efficiency variance for July is:Multiple Choice* $1,900 F* $11,740 F* $1,900 U* $11,740 UB)Gipple Corporation makes a product that uses a material with the quantity standard of 8.3 grams per unit of output and the price standard of $7.00 per gram. In January the company produced 4,400 units using 25,870 grams of the direct material. During the month the company purchased 28,400 grams of the direct material at $7.20 per gram. The direct materials purchases variance is computed when the materials are purchased.The materials price variance for January is:Multiple Choice* $5,680 U* $5,680 F* $7,304 F* $7,304 UC)Chhom Corporation makes a product whose direct labor standards are 0.9 hours per unit and $27 per hour. In November the company produced 7,300 units using 6,070 direct labor-hours. The actual direct labor cost was $127,470.The labor efficiency variance for November is:Multiple Choice* $13,500 F* $49,920 F* $49,920 U* $13,500 U

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