Essay
Eastern Company uses a standard cost system in which manufacturing overhead is applied to units of product on the basis of standard direct labor-hours. The denominator activity level is 60,000 direct labor-hours, or 300,000 units. A standard cost card for the company's product follows:
Actual data for the year follow:
Required:
a.Compute the variable overhead rate and efficiency variances.
b. Compute the fixed manufacturing overhead budget and volume variances.
Correct Answer:
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a. Variable overhead variances:
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Correct Answer:
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Variable...
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