Irving Corporation makes a product with the following standards for direct labor and variable overhead: standard Quantity or Standard Price or Standard Cost Per Hours Rate Unit Direct labor Variable overhead 0.2 hours $15.00 per hour $ 5.10 per hour $3.00 0.2 hours $1.02 n November the company's budgeted production was 5,400 units, but the actual production was 5,200 units. The company used 1,660 direct labor-hours to produce this output. The actual variable overhead cost was $7802. The company applies variable overhead on the basis of direct labor-hours The variable overhead rate variance for November is Multiple Choice $416 U $664 U $664 F

Irving Corporation makes a product with the following standards for direct labor and variable overhead: standard Quantity or Standard Price or Standard Cost Per Hours Rate Unit Direct labor Variable overhead 0.2 hours $15.00 per hour $ 5.10 per hour $3.00 0.2 hours $1.02 n November the company's budgeted production was 5,400 units, but the actual production was 5,200 units. The company used 1,660 direct labor-hours to produce this output. The actual variable overhead cost was $7802. The company applies variable overhead on the basis of direct labor-hours The variable overhead rate variance for November is Multiple Choice $416 U $664 U $664 F

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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