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The Maxit Corporation has a standard costing system in which variable manufacturing overhead is assigned to production on the basis of standard machine-hours. The following
The Maxit Corporation has a standard costing system in which variable manufacturing overhead is assigned to production on the basis of standard machine-hours. The following data are available for July: Actual variable manufacturing overhead cost incurred: $23,060 .Actual machine-hours worked: 1,800 hours Variable overhead rate variance: $3,720 U Total variable overhead spending variance: $5,060 U The variable overhead efficiency variance for July is
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