Question 5Apple Corporation produces a single product. The standard costs for one unit of its product are as follows:Direct materials (6 pounds at $0.50 per pound)$3Direct labor (2 hours at $10 per hour)Variable manufacturing overhead (2 hours at $5 per hour)10During November, 6,000 units were produced. The costs associated with November operations were as follows:Material purchased (36,000 pounds at $0.60 per pound)$21,600Material used in production (28,000 pounds)Direct labor (12,800 hours at $9.75 per hour)117,000Variable manufacturing overhead incurred53,760What is the variable overhead spending variance for the product for November?O $6,240 Unfavorable$ 10,240 FavorableO $ 10,240 UnfavorableO $6,240 Favorable20

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Description: Question 5Apple Corporation produces a single product. The standard costs for one unit of its product are as follows:Direct materials (6 pounds at $0.50 per pound)$3Direct labor (2 hours at $10 per hour)Variable manufacturing overhead (2 hours at $5

Spending variance is the variance which is used by the company and computed to know about how much…

Answered: What is the variable overhead spending…

Business

Accounting

What is the variable overhead spending variance for the product for November?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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