Universal Pty Ltd used a standard cost system to prepare the following budget at normal operating capacity for the month of January 2007.Actual data for January 2007 were as follows:
Using the two-way analysis of overhead variances,what is the total of the fixed budget variance and the variable overhead spending variance for January 2007?
Definitions:
Volume
A measure of the capacity of a body or space, expressed in cubic units.
Mass
The quantity of matter that an object contains, measured in kilograms or grams.
Density
A physical property defined as the mass of a substance per unit volume.
Volume
How much room an object or matter fills.
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