XO-20 is an oil-based product used to remove rust on bolts and nuts that are stuck. Its
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Question:
During 2015, 7,800 cans were produced; 13,000 liters of material were purchased at a cost of $60,000; 10,100 liters of material were used in production. The cost of direct labor incurred in 2015 was $376,250, based on an average actual wage rate of $11 per hour. Actual overhead for 2015 was $125,000.
Required:
a. Determine the standard cost per unit. Round to the nearest cent.
b. Calculate material, labor, and overhead variances.
c. List a possible cause for each variance.
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