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3M assesses standard costing with a standard variable overhead rate of $10/machine hour, actual rate $9.50/machine hour, standard hours 50,000, actual hours 52,000. Requirements: Calculate
- 3M assesses standard costing with a standard variable overhead rate of $10/machine hour, actual rate $9.50/machine hour, standard hours 50,000, actual hours 52,000.
- Requirements:
- Calculate the variable overhead spending variance.
- Calculate the variable overhead efficiency variance.
- Prepare a variance analysis report.
- Recommend strategies to manage variable overhead costs.
- Requirements:
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