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Ivanhoe Company expects to produce 6,600 units of product IOA during the current year. Budgeted variable manufacturing costs per unit are direct materials $5, direct
Ivanhoe Company expects to produce 6,600 units of product IOA during the current year. Budgeted variable manufacturing costs per unit are direct materials $5, direct labour $11, and overhead $18. Monthly budgeted fixed manufacturing overhead costs are $7,900 for depreciation and $4,000 for supervision. In the current month, Ivanhoe produced 7,100 units and incurred the following costs: direct materials $33,330, direct labour $73,600, variable overhead $138,996, depreciation $7,900, and supervision $4,232. Prepare a static budget report. (List variable costs before fixed costs.) Ivanhoe Company Static Budget Report Differ Favour Unfavo Budget Actual Neither Favourable $ $ $ Were costs controlled
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