Diamond manufacturing company uses a standard cost system for and applies overhead based on machine...
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Accounting
Diamond manufacturing company uses a standard cost system for and applies overhead based on machine hours. The following information is available for June:
Standard:
Machine hours per unit. 2
Fixed overhead rate per MH. $5
Budgeted fixed overhead. $25,000
Actual:
Machine hours. 4800
Fixed overhead $26,200
Units produced. 2600
Calculate the fixed overhead budget variance and volume variance for the month of June.
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