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Overhead Variances At the beginning of the year, Lopez Company had the following standard cost sheet for one of its chemical products: Required: 1. Compute

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Overhead Variances At the beginning of the year, Lopez Company had the following standard cost sheet for one of its chemical products: Required: 1. Compute the variable overhead spending and efficiency variances. Enter amounts as positive numbers and select Favorable or Unfavorable. 2. Compute the fixed overhead spending and volume variances. Enter amounts as positive numbers and select Favorable or Unfavorable. Spending variance Volume variance

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