Use the following information for Questions 18 & 1918.19.The Maxit Corporation has a standard costing system in which variable manufacturingoverhead is assigned to production on the basis of standard machine-hours. The following dataare available for July:C.d.The variable overhead efficiency variance for July is:a.$600 Ub.$540 U$540 F$600 F●a.b.Actual variable manufacturing overhead cost incurred: $11,310Actual machine-hours worked: 1,600 hoursVariable overhead rate variance: $1,710 UTotal variable overhead spending variance: $2,310 UThe standard number of machine-hours allowed for July production is closest to:1,600 hours1,700 hoursC.d.1,300 hours1,500 hours

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Description: Use the following information for Questions 18 & 1918.19.The Maxit Corporation has a standard costing system in which variable manufacturingoverhead is assigned to production on the basis of standard machine-hours. The following dataare available fo

The variance is the difference between the actual and standard cost of production data. Total…

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18. 19. The Maxit Corporation has a standard costing system in which variable manufacturing overhead is assigned to production on the basis of standard machine-hours. The following data are available for July: C. d. The variable overhead efficiency variance for July is: a. $600 U b. $540 U $540 F $600 F a. ● ن و نه ● The standard number of machine-hours allowed for July production is closest to: 1,600 hours 1,700 hours 1,300 hours 5001 b. Actual variable manufacturing overhead cost incurred: $11,310 Actual machine-hours worked: 1,600 hours Variable overhead rate variance: $1,710 U Total variable overhead spending variance: $2,310 U

18. 19. The Maxit Corporation has a standard costing system in which variable manufacturing overhead is assigned to production on the basis of standard machine-hours. The following data are available for July: C. d. The variable overhead efficiency variance for July is: a. $600 U b. $540 U $540 F $600 F a. ● ن و نه ● The standard number of machine-hours allowed for July production is closest to: 1,600 hours 1,700 hours 1,300 hours 5001 b. Actual variable manufacturing overhead cost incurred: $11,310 Actual machine-hours worked: 1,600 hours Variable overhead rate variance: $1,710 U Total variable overhead spending variance: $2,310 U

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 9EB: Eagle Inc. uses a standard cost system. During the most recent period, the company manufactured...

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