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XYZ Corporation produces a single product. The standard cost per unit is $50 for direct materials, $30 for direct labor, and $20 for factory overhead.
XYZ Corporation produces a single product. The standard cost per unit is $50 for direct materials, $30 for direct labor, and $20 for factory overhead. During the month of June, the company produced 5,000 units. Actual costs incurred were: direct materials $260,000, direct labor $150,000, and factory overhead $110,000. Calculate the total variance and break it down into material, labor, and overhead variances.
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