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Problem 1. (15 Points). Tiger, Inc. budgeted the following overhead costs for the current year...

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Accounting

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Problem 1. (15 Points). Tiger, Inc. budgeted the following overhead costs for the current year assuming operations at 80% of capacity, or 40,000 units: The actual production achieved in the current year was 60% of capacity, or 30,000 units. The actunl costs were: Calculate the following variances and indicate whether each is favorable or unfavorable. Direct materials: Price variance Quantity variance Direct labor: Rate variance Efficiency variance Variable overhead: Spending variance Efficiency variance Fixed overhead: Spending variance Volume variance

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