Reference no: EM132975934
Question - The data below relate to the month of June for Mik, Inc. which uses a standard cost system:
Actual direct labor cost P 43,400
Actual hours used 14,000 hrs.
Standard hours allowed for good output 15,000 hrs
Direct labor rate variance - debit P 1,400
Actual total overhead P 32,000
Budgeted fixed costs P 9,000
Normal activity in hours 12,000 hrs
Total application rate per standard DLH P 2.25
Tim uses a two-way analysis of overhead variance (controllable and volume).
Required -
1. What was Mic's direct labor usage variance for June?
2. What was Mic's budget variance for June?
3. What was Mic's volume variance for June?
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