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 $390,000 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 fixed overhead volume variance.
a. $5,000 (U)
b. $10,000 (U)
c. $10,000 (F)
d. $15,000 (F)
B
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Many organizations will provide ______ insurance policies to provide for survivors of an employee who dies while employed by the company.
A. individual term life B. Social Security C. group term life D. workers’ compensation
Which of the following best describes the primary role of auditors in financial reporting?
A. Independent party hired by management to express a professional opinion of the extent to which the company's financial reporting is in compliance with generally accepted accounting principles. B. Consultants that are hired by company management to advise on key matters related to competition, product pricing, employee retention, and financial reporting strategies. C. Key employees of the company that actively participate on the management team in strategic planning, product development, and financial reporting. D. Government employees assigned by local officials to ensure accurate financial reporting and operational integrity by the company.
Which of the following statements is TRUE?
A) A trial court is bound by a decision on the same point of law made by another trial court in the province. B) A trial court is bound by a decision on the same point of law made by any Court Appeal in Canada. C) A trial court is bound by a decision on the same point of law made by any Court of Appeal in Canada except for the Quebec Court of Appeal. D) Decisions of the Supreme Court of Canada are binding on all courts in Canada except those in Quebec. E) None of the above.
The programming division at ABC decides to resurrect the classic Battle of the Network Stars and is understandable concerned about the risk to their own stars, the shows they star on, and their reputation as a purveyor of fine family-oriented
entertainment. After a thoughtful assessment of the probabilities and consequences of failure, the team discover that the three probabilities of failure are all equal and the four consequences of failure are all equal. Further, the overall consequence of failure is half the overall probability of failure. The overall risk factor is 0.6; what are the values for the three probabilities and the four consequences?