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Kropf Incorporated has provided the following data concerning one of the products in its standard cost system. Variable manufacturingoverhead is applied to products on the
Kropf Incorporated has provided the following data concerning one of the products in its standard cost system. Variable manufacturingoverhead is applied to products on the basis of direct laborhoursInputsDirect materialsDirect laborVariable manufacturing overheadStandard Quantity orHours per Unit of Output liters hours hoursStandard Price or Rate$ per liter$ per hour$ per hourThe company has reported the following actual results for the product for September:Actual outputRaw materials purchasedActual cost of raw materials purchasedRaw materials used in productionActual direct laborhoursActual direct labor costActual variable overhead costunits liters$ liters hours$ $ Required:a Compute the materials price variance for September.b Compute the materials quantity variance for September.c Compute the labor rate variance for September.d Compute the labor efficiency variance for September.e Compute the variable overhead rate variance for September.f Compute the variable overhead efficiency variance for September.
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