Video Corporation Video Corporation has two product lines: LCD televisions and projection televisions.The company has budgeted the following production and overhead costs for the upcoming year:
Refer to Video Corporation.If the company uses number of units produced to allocate factory overhead,the machine maintenance cost allocated to LCD TVs would be:
Definitions:
Total Variable Overhead Variance
The difference between the actual variable overhead costs incurred and the expected (or budgeted) variable overhead costs.
Material Quantity Variance
A financial measurement that calculates the difference between the expected amount of materials and the actual amount used, affecting production costs and efficiency.
Material Price Variance
The difference between the actual cost of materials used to produce a product and the standard or expected cost.
Direct Material Variances
The difference between the actual cost of direct materials used in production and the standard cost, indicating efficiency in using materials.
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