Question: Intel budgets manufacturing costs: Direct materials $10,000,000, Direct labor $5,000,000, Factory overhead $3,000,000. Requirements: Prepare a flexible budget for different production levels. Calculate the direct

  1. Intel budgets manufacturing costs: Direct materials $10,000,000, Direct labor $5,000,000, Factory overhead $3,000,000.
    • Requirements:
      • Prepare a flexible budget for different production levels.
      • Calculate the direct materials price and usage variances.
      • Calculate the direct labor rate and efficiency variances.
      • Analyze the factory overhead spending and volume variances.

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