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The following information is for the third quarter of this year:
Planned
Actual
Production
92,000 units
87,000 units
Direct labor hours
506,800 DL hrs
380,000 DL hrs
Fixed manufacturing overhead
$205,000
$182,400
Variable manufacturing overhead
$910,000
$841,500
Standard direct labor hour per unit
5.5
Calculate the following three overhead variances.
a. Overhead volume variance
b. Overhead efficiency variance
c. Overhead spending variance
Q. A prior period adjustment that corrects income of a prior period requires that an entry be made to a. an income statement account. b. a current year revenue or expense account.
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How do you report a note in exchange for treasury stock
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