Question: Variance Analysis (Material and Labor): Item Actual Cost ($) Standard Cost ($) Direct Materials 20,000 18,000 Direct Labor 15,000 14,000 Variable Overhead 10,000 9,000 Fixed
Variance Analysis (Material and Labor):
Item | Actual Cost ($) | Standard Cost ($) |
Direct Materials | 20,000 | 18,000 |
Direct Labor | 15,000 | 14,000 |
Variable Overhead | 10,000 | 9,000 |
Fixed Overhead | 8,000 | 7,000 |
Compute the total variance.
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