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Accounting A company has a normal capacity of 120 machines, working 8 hours per day of 25days in a month. The fixo overheads are budgeted
Accounting
A company has a normal capacity of 120 machines, working 8 hours per day of 25days in a month. The fixo overheads are budgeted at 1,44,000 per month. The standard time required to manufacture ne unit of product is 4 hours. In April, 20X2, the company worked 24 days of 840 machine hours per day and produced 5,305 units of output. The actual fixed overheads were 1,42,000. Compute: (i) Expense variance (ii) Volume variance (iii) Total fixed overheads varianceStep by Step Solution
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