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Marigold Corporation had January 1 and December 31 balances as follows.
1/1/20 12/31/20
Inventory $112,000 $133,000Accounts payable 55,000 64,000
For 2020, cost of goods sold was $592,000.
Problem 1: Compute Marigold's 2020 cash payments to suppliers.
Required: Compute these variances: (a) variable overhead spending and efficiency, (b) fixed overhead spending and volume, and (c) total overhead controllable.
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