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Costs incurred (Actual inputs x Actual Rates): Direct Materials $26000, Direct Labour $9750, Actual Inputs x Standard Rates: Direct Materials $18500, Direct Labour $5600,
Costs incurred (Actual inputs x Actual Rates): Direct Materials $26000, Direct Labour $9750, Actual Inputs x Standard Rates: Direct Materials $18500, Direct Labour $5600, Standard Inputs Allowed (Actual Output x Standard Rates): Direct Materials $24000, and Direct Labour $10250. Compute the rate and efficiency variances for each of Direct Materials and Direct labour.
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Accounting For Managers Interpreting Accounting Information for Decision Making
Authors: Paul M. Collier
4th edition
978-111997967, 1119979676, 978-1119979678
