A company's flexible budget for 48,000 units of production showed variable overhead costs of $72,000 and fixed overhead costs of $64,000. The company incurred overhead costs of $122,800 while operating at a volume of 40,000 units. The total controllable cost variance is:
A. $13,200 unfavorable.
B. $1,200 unfavorable.
C. $1,200 favorable.
D. $15,200 favorable.
E. $13,200 favorable.
Answer: C
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On January 1, 2018, Como Company purchased 45% of the outstanding common shares of the Lite Company for $200,000. The net assets of Lite Company totaled $400,000. The inventory had a book value of $100,000 and a fair value of $120,000. Excess cost attributable to inventory is written off in 2018. During 2018, Lite Company earned $200,000 and declared a dividend of $40,000 for the year.The carrying value of the Lite investment at the end of 2018 is
A. $263,000 B. $272,000 C. $200,000 D. $290,000
Current accounting standards indicate that the costs of intangible assets with an indefinite life, such as goodwill, should
a. not be amortized. b. be reported on the statement of retained earnings in the year in which acquired. c. be amortized over a reasonable period of time not to exceed 40 years. d. increase an expense account entirely in the year in which acquired.
Name the three parties involved in a smurf attack
The ethic of care is associated with which ethical perspective?
A. aristotelian ethics B. confucianism C. altruism D. categorical imperative