Jarvey corporation has a standard cost system in which it, Ask an Expert

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Jarvey Corporation has a standard cost system in which it applies manufacturing overhead to products on the basis of standard machine-hours (MHs). The company has provided the following data for the most recent month:

Budgeted level of activity (MHs) 6,100
Actual level of activity (MHs) 6,300
Cost formula for variable overhead cost (per MH) $6.70
Budgeted fixed manufacturing overhead cost $42,000
Actual total variable overhead $41,580
Actual total fixed manufacturing overhead $45,000

What was the variable overhead rate variance for the month?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9969221

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