Balladares Incorporated has a standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. The standard for variable manufacturing overhead is 0.10 hours at $6.30 per hour. The company has reported the following actual results for the product for May:
Required:
a. Compute the variable overhead rate variance for May.
b. Compute the variable overhead efficiency variance for May.
Definitions:
QWERTY Keyboard
The standard layout for English-language keyboards, named after the first six letters in the top letter row.
Industry Standard
Accepted norms and practices within a particular industry, often used as benchmarks for quality and performance.
Virtual Monopoly
A virtual monopoly occurs when a company has majority control over a market or industry, significantly influencing prices and competition, even if it's not a complete monopoly.
National Football League
The National Football League (NFL) is a professional American football league comprised of 32 teams, divided equally between the National Football Conference (NFC) and the American Football Conference (AFC).
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