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    Winnipeg Chemical Company

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    The Winnipeg Chemical Company uses flexible budgets and a standard cost system.

    ? Direct-labor costs incurred, 12,000 hours,$150,000
    ? Variable-overhead costs incurred, $37,000
    ? Fixed-overhead flexible-budget variance,$1,600, favorable
    ? Finished units produced,1,800
    ? Fixed-overhead costs incurred, $38,000
    ? Variable overhead applied at $3 per hour
    ? Standard direct-labor cost, $13 per hour
    ? Denominator production per month, 2,000 units
    ? Standard direct-labor hours per finished unit, 6 hours.

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    The Winnipeg Chemical Company uses flexible budgets and a standard cost system.

    ? Direct-labor costs incurred, 12,000 hours,$150,000
    ? Variable-overhead costs incurred, $37,000
    ? Fixed-overhead flexible-budget variance,$1,600, favorable
    ? Finished units produced,1,800
    ? Fixed-overhead costs incurred, $38,000
    ? Variable ...

    Solution Summary

    This solution is comprised of a detailed explanation to prepare an analysis of all variances.

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