Standard costs 960 hours @ $36.00 970 hours a $35.50 Determine the (a) time variance,...
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Standard costs 960 hours @ $36.00 970 hours a $35.50 Determine the (a) time variance, (b) rate variance, and (c) total direct labor cost variance. 2. The following information relates to manufacturing overhead for the Parker Company: Standards: Total fixed factory overhead- $450,000 Estimated production-25,000 units ( 1 00% of capacity) Overhead rates are based on machine hours. Standard hours allowed per unit produced -2 Fixed overhead rate - $9 per machine hour Variable overhead rate $3.50 per hour. Actual: Fixed factory overhead - $450,000 Production 24,000 units. Variable overhead-$170,000 Required: (a) Compute the volume variance. (b) Compute the controllable variance. (c) Compute the total factory overhead cost variance. 3. Standard and actual costs for direct materials for the manufacture of 1,000 units of follows
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