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Compute the company variable-overhead efficiency variance

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Problem - Priority Company, which applies overhead to production on the basis of machine hours, reported the following data for the period just ended:

Actual units produced: 10,000

Actual variable overhead incurred: $50,500

Actual machine hours worked: 15,000

Standard variable overhead cost per machine hour: $3.70

Required - If Priority estimates 1.90 hours to manufacture a completed unit, compute the company's variable-overhead efficiency variance?

Reference no: EM132835084

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