Problem

Logical Solutions reports the following overhead variances for 2010: In addit...

Logical Solutions reports the following overhead variances for 2010:

In addition, actual overhead incurred in 2010 was $1 million. Overhead is absorbed to products using standard direct labor hours. 2010 volume was budgeted to be 40,000 direct labor hours and fixed overhead was budgeted to be $600,000.

Required:

What were actual volume, standard volume, and budgeted variable overhead for 2010?

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Solutions For Problems in Chapter 13