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Conduct a variance analysis for Walmart Inc.'s grocery department for the month of May. The standard cost of producing 1,000 units is $50,000, while the

 Conduct a variance analysis for Walmart Inc.'s grocery department for the month of May. The standard cost of producing 1,000 units is $50,000, while the actual cost incurred is $55,000. Calculate the direct material, direct labor, and overhead variances. Discuss the potential causes of each variance and recommend corrective actions.

                 

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