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I am having trouble understanding OH volume. Can some please explain the solution to this problem? Thanks
Budgeted overhead for Company at normal capacity of 30,000 direct labor hours is $6 per hr for variable and $4 per hour for fixed. In May, $310,000 of overhead was incurred in working 31,500 hours when 32,000 standard hours were allowed. The overhead volume variance is…….
Answer $8,000 Favorable
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