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Question - Blue Dingo uses a standard costing system. The company's standard costs and variances for direct materials, direct labor, and factory overhead for the month of May are as follows.
Variances Standard Cost Unfavorable Favorable Direct materials - $84,000
Price variance - $4,800
Quantity variance - $3,000
Direct labor - 173,000
Rate variance - 2,700
Efficiency variance - 6,200
Manufacturing overhead - 255,000
Spending variance - 3,700
Volume variance - 5,000
Determine the actual costs incurred during the month of May for direct materials, direct labor, and manufacturing overhead.
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