Question: Variance Analysis (Material and Labor): Item Actual Cost ($) Standard Cost ($) Direct Materials 50,000 45,000 Direct Labor 40,000 35,000 Variable Overhead 30,000 25,000 Fixed
- Variance Analysis (Material and Labor):
Item | Actual Cost ($) | Standard Cost ($) |
Direct Materials | 50,000 | 45,000 |
Direct Labor | 40,000 | 35,000 |
Variable Overhead | 30,000 | 25,000 |
Fixed Overhead | 20,000 | 18,000 |
Compute the total variance.
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