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The standards for one carton of Wonder Wax are:
During the week ended December 4, the following activity took place:
• 4,600 lbs. of raw material were purchased for inventory at a cost of $2.63 per pound;
• 1,050 cartons of finished product were produced;
• 4,225 lbs. of raw material were used;
• 6,140 labor hours were worked at a total cost of $33,463;
• $20,569 actual variable overhead costs were incurred.Calculate each of the following variances:
(a.) Price variance for raw materials purchased.(b.) Raw materials usage variance.(c.) Direct labor rate variance.(d.) Direct labor efficiency variance.(e.) Variable overhead spending variance.(f.) Variable overhead efficiency variance.
Corporate Vertical Marketing Systems
A structured form of marketing systems where a single corporation controls multiple levels of production, distribution, and sales within its supply chain.
Successive Stages
Sequential phases or steps in a process or development.
Single Ownership
A business or property wholly owned by one person or legal entity, without joint owners or shareholders.
Dual Distribution
A marketing strategy where a company uses two or more distribution channels to reach different customer segments or geographic markets.
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