Majer Corporation makes a product with the following standard costs: Standard Quantity or HoursStandard Price or RateStandard Cost Per UnitDirect materials 6.4ounces$3.00per ounce$19.20Direct labor 0.4hours$13.00per hour$5.20Variable overhead 0.4hours$5.00per hour$2.00?The company reported the following results concerning this product in February. Originally budgeted output 4,800unitsActual output 4,900unitsRaw materials used in production 30,230ouncesActual direct labor-hours 1,910hoursPurchases of raw materials 32,600ouncesActual price of raw materials$2.90per ounceActual direct labor rate$12.40per hourActual variable overhead rate$4.90per hour?The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is
computed when the materials are purchased.?The variable overhead efficiency variance for February is:
A. $245 F
B. $250 U
C. $245 U
D. $250 F
Answer: D
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Straddle positions ________
A) help firms to analyze who their competitors are B) allow brands to expand their market coverage and potential customer base C) are a necessity while creating a firm's vision and mission statement D) assist firms in collecting information on competitors that will directly influence their strategy E) are ambiguous moral principles behind the operation and regulation of marketing
The fringe trading area has the highest density of customers to population
Indicate whether the statement is true or false
A supervisor on the night shift at a manufacturing plant is told to dump chemicals used in the refining process rather than dispose of them properly according to safety regulations. The owner of the company insists that the chemicals are not harmful to the environment, but the supervisor knows that the dumping is illegal. The supervisor believes that he will lose his job if he reports the problem
to authorities at the Environmental Protection Agency. This is an example of which potential cause of unethical behavior? a. obsession with personal advancement. b. excessive emphasis on profits. c. uncertainty about whether an act is wrong. d. Unwilling to stand for what is right.
Which of the following statements is CORRECT?
A. Any forecast of financial requirements involves determining how much money the firm will need, and this need is determined by adding together increases in assets and spontaneous liabilities and then subtracting operating income. B. The AFN equation for forecasting funds requirements requires only a forecast of the firm's balance sheet. Although a forecasted income statement may help clarify the results, income statement data are not essential because funds needed relate only to the balance sheet. C. Dividends are paid with cash taken from the accumulated retained earnings account, hence dividend policy does not affect the AFN forecast. D. A negative AFN indicates that retained earnings and spontaneous capital are far more than sufficient to finance the additional assets needed. E. If assets and spontaneously generated liabilities are not projected to grow at the same rate as sales, then the AFN method will provide more accurate forecasts than the projected financial statement method.