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Please show names with calculations how to get to the answer. Standard Cost Variance Use the following data for required calculations: Production 3,500 units Description
Please show names with calculations how to get to the answer.
Standard Cost Variance Use the following data for required calculations: Production 3,500 units Description Direct Materials Direct Materials Direct Labor Direct Labor Standard (1,750 lbs @ $20) (1,800 lbs @ $21) (3,500 hours @ $16) (3,400 hours @ $16.50) Actual $37,800 $37,800 $56,000 $56,100 Calculate the following variances, noting whether Favorable (F) or Unfavorable (U): Direct Materials Price Variance Direct Materials Quantity Variance Total Direct Materials Cost Variance Direct Labor Rate Variance Direct Labor Efficiency Variance Total Direct Labor Variance
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