The richie company uses a standard costing system in which, Ask an Expert

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The Richie Company uses a standard costing system in which variable manufacturing overhead is assigned to production on the basis of the number of machine setups. Data for the month of October include the following:

• Variable manufacturing overhead cost incurred: $42,750
• Total variable manufacturing overhead variance: $5,430 favorable
• Standard machine setups allowed for actual production: 2,920 setups
• Actual machine setups incurred: 2,850 setups

The standard variable overhead rate per machine setup is:

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M954092

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