Termeer Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours.InputsStandard Quantity or Hours per Unit of OutputStandard Price or RateVariable manufacturing overhead0.30 hours$2.30 per hourThe company has reported the following actual results for the product for August: Actual output 8,000unitsActual direct labor-hours 2,380hoursActual variable overhead rate$2.10per hourActual variable overhead cost$4,998 The variable overhead rate variance for the month is closest to:
A. $480 U
B. $476 F
C. $476 U
D. $480 F
Answer: B
You might also like to view...
“You came early to class and therefore you must be a good overall student.” What type of performance appraisal error is involved here?
A. Bias B. Halo C. Similarity D. Stereotyping E. Distributional
Which of the following is not a reason why growth in the supermarket sector has been consistently declining over the last decade?
A. the increase in competition from warehouse clubs B. the increase in competition from online retailers. C. the decrease in population D. the increase in out-of-home eating E. the general rise in food costs
LED Corp.'s common stock paid $2.50 in dividends last year (D0 )
Dividends are expected to grow at a 12-percent annual rate forever. If LED's current market price is $40.00, and your required rate of return is 23 percent, should you purchase the stock? A) Yes, the stock is expected to return more than you require. B) No, the percentage return on the stock is too high, thus it is too risky. C) No, the stock is overpriced. D) Not enough information is given.
In Babbitt v. Sweet Home, the Supreme Court held that the government had to compensate land owners whose property was reduced in value due to use restrictions due to the existence of endangered species
a. True b. False Indicate whether the statement is true or false