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Diamond manufacturing company uses a standard cost system for and applies overhead based on machine...

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Accounting

Diamond manufacturing company uses a standard cost system for and applies overhead based on machine hours. The following information is available for June:

Standard:

Machine hours per unit. 2

Fixed overhead rate per MH. $5

Budgeted fixed overhead. $25,000

Actual:

Machine hours. 4800

Fixed overhead $26,200

Units produced. 2600

Calculate the fixed overhead budget variance and volume variance for the month of June.

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