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Reference: Lanen, 6 edition, Fundamentals of Cost Accounting McGraw Hill Book CoursHeroTranscribedText: 7 The (partial)...

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Accounting

Reference: Lanen, 6 edition, Fundamentals of Cost Accounting McGraw Hill Book

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CoursHeroTranscribedText: 7 The (partial) cost sheet for the single product manufactured at Vienna Company follows. Direct labor (20 hours @ $25) $500 Variable overhead (20 hours @ $2) 40 Fixed overhead (20 hours @ $4) 80 10 ' points The master budget level of production is 88,000 directlabor hours, which is also the production volume used to compute the xed overhead application rate. Other information available for operations over the past accounting period include the following. Actual variable overhead incurred $138,000 Actual fixed overhead incurred 367,800 Direct labor efficiency variance 168,000 U Variable overhead price variance 36,000 F . Required: a. What was the variable overhead efciency variance? b. What was the fixed overhead price variance? c. What was the xed overhead production volume variance? (For all requirements, indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) . Variable overhead eciency variance b. Fixed overhead price variance . Fixed overhead production volume variance Next > %

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