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Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours. Information from LL's standard cost card follows. During August, LLL had the following actual results: Required: Compute LL's variable overhead rate variance. variable overhead efficiency variance, and over-or underapplied variable overhea Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)
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