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Please answer ASAP. Please answer with detailed calculation. Please do not hand write. Thank you. Majer Corporation makes a product with the following standard costs:
Please answer ASAP. Please answer with detailed calculation. Please do not hand write. Thank you.
Majer Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity or Hours 6.1 ounces 0.4 hours 0.4 hours Standard Price or Rate $ 3.00 per ounce $ 16.00 per hour $ 3.00 per hour Standard Cost Per Unit $ 18.30 6.40 $ 1.20 The company reported the following results concerning this product in February Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price of raw materials Actual direct labor rate Actual variable overhead rate 5,000 units 6,100 units 33,500 ounces 2,070 hours 34,000 ounces $ 57.10 per ounce $ 47.60 per hour $ 5.70 per hour The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead efficiency variance for February is: Multiple Choice $1,110 U O $1.060 F $1,110 F $1,060 UStep by Step Solution
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