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A company prepares a flexible budget for variable overhead costs based on the following information: Budgeted standard machine hours: 6,000 hours Variable overhead rate per
A company prepares a flexible budget for variable overhead costs based on the following information:
Budgeted standard machine hours: 6,000 hours
Variable overhead rate per machine hour: $5
During the period, actual machine hours worked were 5,800, and actual variable overhead costs incurred were $28,000. Calculate the variable overhead spending variance and variable overhead efficiency variance.
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