Underfoot Products uses standard costing. The following information about overhead was generated during May: Standard variable overhead rate $2 per machine hour Standard fixed overhead rate $1 per machine hour Actual variable overhead costs $361,000 Actual fixed overhead costs $175,000 Budgeted fixed overhead costs $190,000 Standard machine hours per unit produced 10 Good units produced 18,000
Actual machine hours 200,000 Compute the variable overhead variance.
a. $21,000 (F)
b. $21,000 (U)
c. $1,000 (U)
d. $11,000 (F)
C
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TECO Coal Corporation is interested in the inspections that the U.S. Bureau of Mines has conducted over the past year. To secure this information, TECO should
a. issue a subpoena duces tecum. b. make a Freedom of Information Act request. c. make a de novo request. d. assert the substantial evidence rule.
During the meeting with Kevin, one of Commodore's auditors, he urges Ron to get his buyers to "take title" to products and to provide documentation before Ron "books and holds" the sales in advance of actual financial transactions. In this case, the auditor is seeking information to reduce
A. risk. B. expenses. C. debt. D. assets. E. profits.
When using branch and bound to solve an integer programming problem, if the value of X1 = 2.5 at a given node, then one of the descendant branches would have which one of the additional constraints?
A) X1 ? 2 B) X1 ? 3 C) X1 = 3 D) X1 ? 2 E) X1 = 2
According to the risk-return ratio, conservative decisions actually result in more risk when compared to decisions that are often considered high-risk decisions.
Answer the following statement true (T) or false (F)