Question
Variance Analysis (Material and Labor): Item Actual Cost ($) Standard Cost ($) Direct Materials 60,000 50,000 Direct Labor 45,000 40,000 Variable Overhead 35,000 30,000 Fixed
- Variance Analysis (Material and Labor):
Item | Actual Cost ($) | Standard Cost ($) |
Direct Materials | 60,000 | 50,000 |
Direct Labor | 45,000 | 40,000 |
Variable Overhead | 35,000 | 30,000 |
Fixed Overhead | 25,000 | 20,000 |
Compute the total variance.
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
6th Canadian edition
1118644948, 978-1118805084, 1118805089, 978-1118644942
