13-67 Straightforward Problem on Standard Cost System Study Appendix 13. 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 Prepare an analysis of all variances (similar to Exhibit 13-11, p. 614). "
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