Question
Li Pong company uses a standard costing system. Last year they incurred $100,000 of Variable Overhead and $302,000 of Fixed Overhead and had the following
Li Pong company uses a standard costing system. Last year they incurred $100,000 of Variable Overhead and $302,000 of Fixed Overhead and had the following variances before closing entries.
FOH Budget Variance - $8,000 F
FOH Volume Variance - $9,000 U
VOH Spending Variance - $8,000 F
VOH Efficiency Variance - $1,000 U
How much overhead was applied to inventory over the course of the year?
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Financial Accounting An Integrated Statements Approach
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
2nd Edition
324312113, 978-0324312119
