Study Appendix 13. The Mnchen Company uses a standard cost system. The months data regarding its single

Study Appendix 13. The München Company uses a standard cost system. The month’s data regarding its single product follow (where € is the symbol for the euro, the currency of most countries of the European Union):

● Fixed-overhead costs incurred, €6,300

● Variable overhead applied at €11 per hour

● Standard direct-labor cost, €44 per hour

● Denominator production per month, 220 units

● Standard direct-labor hours per finished unit, 5

● Direct-labor costs incurred, 1,000 hours, €42,500

● Variable-overhead costs incurred, €10,400

● Fixed-overhead flexible-budget variance, €300, favorable

● Finished units produced, 180

Prepare an analysis of all variances (similar to Exhibit 13-10, p. 553).