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Raven applies overhead based on direct labor hours. The variable overhead standard is 12.0 hours at $21.0 per hour. During July, Raven spent $1,236,700 for variable overhead. 58,380 labor hours were used to produce 4,900 units. What is the variable overhead efficiency variance? Multiple Choice O O $8.820 favorable $1,123,080 favorable $10,720 favorable $10,720 unfavorable

Raven applies overhead based on direct labor hours. The variable overhead standard is 12.0 hours at $21.0 per hour. During July, Raven spent $1,236,700 for variable overhead. 58,380 labor hours were used to produce 4,900 units. What is the variable overhead efficiency variance? Multiple Choice O O $8.820 favorable $1,123,080 favorable $10,720 favorable $10,720 unfavorable

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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Raven applies overhead based on direct labor hours. The variable overhead standard is 12.0 hours at $21.0 per hour. During July, Raven spent $1,236,700 for variable overhead. 58,380 labor hours were used to produce 4,900 units. What is the variable overhead efficiency variance? Multiple Choice $8,820 favorable $1,123,080 favorable $10,720 favorable $10,720 unfavorable
Transcribed Image Text:Raven applies overhead based on direct labor hours. The variable overhead standard is 12.0 hours at $21.0 per hour. During July, Raven spent $1,236,700 for variable overhead. 58,380 labor hours were used to produce 4,900 units. What is the variable overhead efficiency variance? Multiple Choice $8,820 favorable $1,123,080 favorable $10,720 favorable $10,720 unfavorable
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