Irving Corporation makes a product with the following standards for direct labor and variable overhead: Standard Quantity or HoursStandard Price or RateStandard Cost Per UnitDirect labor 0.3hours$14.00per hour$4.20 Variable overhead 0.3hours$5.00per hour$1.50 In November the company's budgeted production was 5,300 units, but the actual production was 5,100 units. The company used 1,650 direct labor-hours to produce this output. The actual variable overhead cost was $7,590. The company applies variable overhead on the basis of direct labor-hours.The variable overhead rate variance for November is:
A. $660 U
B. $660 F
C. $612 U
D. $612 F
Answer: B
You might also like to view...
Explain SSbetween, SSwithin, and SSy and their relationship
What will be an ideal response?
If mix and yield variances are computed, it is not necessary to compute price and rate variances for material and labor
Indicate whether the statement is true or false
Which of the following is true of nonverbal communication??
A) ?It is the best channel of communication when a high degree of control is to be maintained over a message sent. B) ?It is difficult to interpret for a variety of reasons, mainly because it is not generally considered a coded language. C) ?It is appropriate when the message to be communicated should be precise and should avoid chances of ambiguity. D) ?It is an efficient channel of communication when long and complex messages have to be delivered.
When two parties incur the liability of a partnership without actually being partners, it is referred to as
a. partnership by apparent authority. b. a wrongful association. c. a charitable partnership. d. partnership by estoppel.