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ABC Company had budgeted to produce 1,000 units of a product. Actual production was 1,200 units. The budgeted cost per unit was $50. Actual costs

  • ABC Company had budgeted to produce 1,000 units of a product. Actual production was 1,200 units. The budgeted cost per unit was $50. Actual costs incurred were $60,000 for materials, $30,000 for labor, and $20,000 for overhead. Calculate the material, labor, and overhead variances using a flexible budget approach.                  

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