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Please see the attached document for the question and requirements. Thank you. 22-34 Computation of Variances and Other Missing Data The following data for O'Keefe
Please see the attached document for the question and requirements. Thank you.
22-34 Computation of Variances and Other Missing Data The following data for O'Keefe Company pertain to the production of 300 units of Product X during December. Selected data items are omitted. Direct Materials (all materials purchased were used during period) Standard Cost per unit: a) pounds at $3.20 per pound. Total actual cost: b) Pounds costing $5673 Standard cost allowed for units produced: $5760 Material price variance: c) Materials quantity variance: $96 U Direct Labor Standard cost: 2 hours at $7 Actual cost per hour: $7.25 Labor rate variance: e) Labor efficiency variance: $140 U Variable Overhead Standard costs: f) hours at $4 per direct labor hour Actual cost: $2250 Variable overhead spending variance: g) Variable overhead efficiency variance: h) Required: Complete the missing amounts lettered a) through h)Step by Step Solution
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