Lihue, Inc., applies fixed overhead at the rate of $2.60 per unit. Budgeted fixed overhead...
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Lihue, Inc., applies fixed overhead at the rate of $2.60 per unit. Budgeted fixed overhead was $911,820. This month 343,700 units were produced, and actual overhead was $902,000. Required: a. What are the fixed overhead price and production volume variances for Lihue? b. What was budgeted production for the month? Complete this question by entering your answers in the tabs below. Required A Required B What are the fixed overhead price and production volume variances for Lihue? (Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Fixed overhead price variance Fixed overhead production volume variance duction volume variance
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