Forward Venture Company, which uses a standard cost system, budgeted $600,000 of fixed overhead when 40,000 machine hours were anticipated. Other data for the period were:Actual units produced: 10,000Standard production time per unit: 3.9 machine hoursFixed overhead incurred: $620,000Actual machine hours worked: 42,000Forward Venture Company's fixed-overhead budget variance is:
A. $20,000 unfavorable.
B. $10,000 favorable.
C. $15,000 unfavorable.
D. $15,000 favorable.
E. $20,000 favorable.
Answer: A
You might also like to view...
Under the direct write-off method, the write-off of an account affects the balance sheet and the income statement
Indicate whether the statement is true or false
The employer must pay to the IRS the amount owed for Social Security and Medicare by the business plus the amount withheld for the employee
Indicate whether the statement is true or false
Which of the following laws is most relevant to the marketing mix category of promotion?
A) the National Do Not Call Registry B) the Consumer Products Safety Commission Act C) the Robinson-Patman Act D) the Sherman Antitrust Act E) the Child Protection Act
An amendment to the articles of incorporation can create a new position on the board of directors.
Answer the following statement true (T) or false (F)