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The following information is provided to assist you in evaluating the performance of the production operations of Studio Company: Variable overhead is applied on the

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The following information is provided to assist you in evaluating the performance of the production operations of Studio Company: Variable overhead is applied on the basis of direct labor-hours. Required: Calculate all variable production cost price and efficiency variances and fixed production cost price and production volume variances. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)

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