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Calculate the material quantity variance for May ? Ortman Corporation makes a product with the following standard costs Standard Quantity or Hours 7.9 liters 0.7
Calculate the material quantity variance for May ?
Ortman Corporation makes a product with the following standard costs Standard Quantity or Hours 7.9 liters 0.7 hours 0.7 hours Standard Price or Rate Direct labor Variable overhead. $8.00 per liter $17 00 per hour $1.00 per hour The company reponed the following results concerning this product in May Actual output, Raw materials used in production. Actual direct labor-hours Purchases of raw materials Actual price of raw materials purchased Actual direct labor rate Actual vanable overhead rateso.9o per hour 1600 units 12 490 iters 1.090 hours 14.000 liters $8.10 per liter $16 10 per hour The company applice variable overhead on the bais of direct iabor tours The drect matestiuns purchascs variance is computed whon the materils are The labor rate variance for MayStep by Step Solution
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