Freytag Corporation's variable overhead is applied on the basis of direct labor-hours.The company has established the following variable overhead standards for product N06C:
The following data pertain to the most recent month's operations during which 1,600 units of product N06C were made:
Required:
a.What was the variable overhead rate variance for the month?
b.What was the variable overhead efficiency variance for the month?
Definitions:
Minority
A group or category of people distinguished by physical or cultural traits, who are less numerous than the more dominant group in a society or community.
Labor-Management Cooperation
A collaborative effort between employers and employees to improve working conditions, productivity, and the overall success of the organization.
U.S. Labor Law
A body of laws, regulations, and judicial decisions that address the legal rights of, and restrictions on, working people and their organizations in the United States.
ESOPs
Employee stock ownership plans, which are employee benefit plans giving workers ownership interest in the company.
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