Question: Variance Analysis (Material and Labor): Item Actual Cost ($) Standard Cost ($) Direct Materials 40,000 35,000 Direct Labor 30,000 28,000 Variable Overhead 20,000 18,000 Fixed
- Variance Analysis (Material and Labor):
Item | Actual Cost ($) | Standard Cost ($) |
Direct Materials | 40,000 | 35,000 |
Direct Labor | 30,000 | 28,000 |
Variable Overhead | 20,000 | 18,000 |
Fixed Overhead | 15,000 | 12,000 |
Compute the total variance.
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