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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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
Transcribed Image Text:Oriole Company is evaluating its performance at year-end within its variable costing system. The company uses standard costing and
budgeted for $16,300 of fixed-MOH costs to support budgeted production of 2,800 units. The purchasing department couldn't get its
hands on as many raw materials as it had hoped, so production was only 2,200 units this year. Variable manufacturing costs and
variable operating costs were on-budget at $21 per unit and $2 per unit, respectively.
Fortunately, the company sold all of this year's production plus its entire FG Inventory of 400 units from the prior year. This year's unit
costs were the same as last year's. How much will Oriole report for its COGS this year? Will the company recognize a fixed-MOH
volume variance this year? If there is a fixed-MOH volume variance, specify the amount and the sign. (Do not leave any answer field
blank. Enter O for amounts.)
COGS
Fixed-MOH volume variance
$
$
Expert Solution
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