Business
Business, 22.06.2019 03:00, tus

Lane company manufactures a single product and applies overhead cost to that product using standard direct labor-hours. the budgeted variable manufacturing overhead is $2 per direct labor-hour and the budgeted fixed manufacturing overhead is $480,000 per year. the standard quantity of materials is 3 pounds per unit and the standard cost is $7 per pound. the standard direct labor-hours per unit is 1.5 hours and the standard labor rate is $12 per hour. the company planned to operate at a denominator activity level of 60,000 direct labor-hours and to produce 40,000 units of product during the most recent year. actual activity and costs for the year were as follows:

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Lane company manufactures a single product and applies overhead cost to that product using standard...

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