Fortes Incorporated has provided the following data concerning one of the products in its standard...
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Fortes Incorporated has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct laborhours.ntsInputsDirect materialsDirect laborVariable manufacturing overheadStandard Quantity orHours per Unit of Output ounces hours hoursStandard Price or Rate$ per ounce$ per hour$ per hourThe company has reported the following actual results for the product for April:Actual outputRaw materials purchasedActual cost of raw materials purchasedRaw materials used in productionActual direct laborhoursActual direct labor costActual variable overhead cost unitsounces$ ounces hours$ $ Required:a Compute the materials price variance for April.b Compute the materials quantity variance for April.c Compute the labor rate variance for April.d Compute the labor efficiency variance for April.e Compute the variable overhead rate variance for April.f Compute the variable overhead efficiency variande for April.
Fortes Incorporated has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct laborhours.ntsInputsDirect materialsDirect laborVariable manufacturing overheadStandard Quantity orHours per Unit of Output ounces hours hoursStandard Price or Rate$ per ounce$ per hour$ per hourThe company has reported the following actual results for the product for April:Actual outputRaw materials purchasedActual cost of raw materials purchasedRaw materials used in productionActual direct laborhoursActual direct labor costActual variable overhead cost unitsounces$ ounces hours$ $ Required:a Compute the materials price variance for April.b Compute the materials quantity variance for April.c Compute the labor rate variance for April.d Compute the labor efficiency variance for April.e Compute the variable overhead rate variance for April.f Compute the variable overhead efficiency variande for April.
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