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Lincoln Company
Lincoln Company applies overhead based on direct labor hours and has the following available for the current month:
Standard:
Direct labor hous per unit 6
Variable overhead per DLH
Fixed overhead per DLH
Actual:
Units prochuced 2,000
Direct labor hours 11,900
Variable overhead $9,900
Fixed overheacl $25,500
Refer to Lincoln Company.Compute all the appropriate variances using the four-variance approach.
Spread
The difference between two values, such as the bid and ask prices in financial markets, or the range in statistical data.
Market Maker
An entity that buys and sells securities from their own inventory, facilitating trading and liquidity in the market.
Transactions
The act of conducting business or commercial dealings, such as buying, selling, or exchanging goods, services, or financial instruments.
Profits
The surplus remaining after total costs are deducted from total revenue, and an indicator of the financial health and success of a business.
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