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From the following data, determine the total actual costs incurred for direct material, direct labor, and variable overhead.

From the following data, determine the total actual costs incurred for direct material, direct labor, and variable overhead.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Working With Variances From the following data, determine the total actual costs incurred for direct material, direct labor, and variable overhead. Direct material Price variance Quantity variance Direct labor Rate variance Efficiency variance Variable overhead Spending variance Efficiency variance Standard Costs Variances $150,000 Direct material $ Direct labor $ Variable overhead $ 130,000 74,000 Actual Costs 0 0 0 3,000 U 4,000 F 1,400 U 1,800 U 1,000 F 600 U
Transcribed Image Text:Working With Variances From the following data, determine the total actual costs incurred for direct material, direct labor, and variable overhead. Direct material Price variance Quantity variance Direct labor Rate variance Efficiency variance Variable overhead Spending variance Efficiency variance Standard Costs Variances $150,000 Direct material $ Direct labor $ Variable overhead $ 130,000 74,000 Actual Costs 0 0 0 3,000 U 4,000 F 1,400 U 1,800 U 1,000 F 600 U
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