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answer all parts of the questions. Computation of Variances and Other Missing Data The following data for O'Keefe Company pertain to the production of 500
answer all parts of the questions.
Computation of Variances and Other Missing Data The following data for O'Keefe Company pertain to the production of 500 units of Product X during December. Selected data items are omitted. Fill in the missing amounts, Direct materials (all materials purchased were used during period) Standard cost per unit: 0 pounds at 2.88 per pound Total actual cost: 0 pounds costing $5,673 Standard cost allowed for units produced: $5,760 Materials price variance: $ 0 Materials quantity variance: $144 U Direct labor Standard cost: 2 hours at $7.00 Actual cost per hour: $7.25 Total actual cost: $ 0 Labor rate variance: $ 0 . Labor efficiency variance: $140 U Variable overhead Standard costs: 0 hours at $4.00 per direct labor hour Actual cost: $3,700 Variable overhead spending variance: $ 0 Variable overhead efficiency variance: $ 0Step by Step Solution
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