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Pippin Incorporated has provided the following data concerning one of the products in its standard...

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Accounting

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Pippin Incorporated has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours Standard Quantity or Hours per Inputs Unit of output Standard Price or Rate Direct materials 5.0 grams $ 7.00 per gram Direct labor 0.30 hours $21.30 per hour Variable manufacturing overhead 0.30 hours $ 9.60 per hour The company has reported the following actual results for the product for June Actual output 8,500 units Raw materials purchased 48, 100 grams Actual price of raw materials $ 7.70 per gram Raw materials used in production 42,490 grams Actual direct labor-hours 2,380 hours Actual direct labor rate $21.70 per hour Actual variable overhead rate $ 9.80 per hour The variable overhead rate variance for the month is closest to: The variable overhead rate variance for the month is closest to Multiple Choice $460 Unfavorable $510 Favorable $510 Unfavorable $460 Favorable

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