Concorde Industries provided the following information about its standard costing system for 2019: Standard Data Actual Data

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Concorde Industries provided the following information about its standard costing system for 2019:

Standard Data Actual Data

Labor 2 hrs. @ Php21 per hr. Produced 8,000 units

Budgeted fixed overhead Php100,000 Labor worked 15,000 hrs. costing Php300,000

Budgeted variable overhead Php30 per unit Actual overhead Php355,000

Budgeted production 10,000 units

Concord Industries applies fixed overhead at Php10 per unit produced.

Instructions

Determine the amounts of the overhead variances.

Posted Date: May 15, 2024 09:36 AM

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Concorde Industries provided the following information about its standard costing system for 2019: Standard Data Actual Data

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Expert Answer:

Answer To calculate the following variances we can use the standard costing system 1 Labor Rate Vari... View the full answer

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