Haney Corporation has a standard costing system. Variable production overhead is applied on a direct labor-hour basis.
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Question:
Haney Corporation has a standard costing system. Variable production overhead is applied on a direct labor-hour basis. The following data are available for January:
- Actual variable overhead: $25,500
- Actual direct labor hours worked: 5,800
- Variable overhead rate variance: $600 Positive
- Variable overhead efficiency variance: $2,475 Negative
- Evaluate the standard hours allowed for furnace production.
Related Book For
Managerial Accounting Tools for Business Decision Making
ISBN: 978-1118033890
3rd Canadian edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
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