A furniture manufacturer uses a standard costing system in which standard machine-hours (MHs) is the measure of activity. Data from the company's flexible budget for manufacturing overhead are given below: Denominator level of activity 1,400MHsOverhead costs at the denominator activity level: Variable overhead cost$12,040 Fixed overhead cost$17,360 ?The following data pertain to operations for the most recent period: Actual hours 1,300MHsStandard hours allowed for the actual output 1,440MHsActual total variable manufacturing overhead cost$11,440 Actual total fixed manufacturing overhead cost$18,560 ?The fixed manufacturing overhead budget variance for the period is closest to:
A. $704 F
B. $1,999 U
C. $2,440 F
D. $1,200 U
Answer: D
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Lena borrows from Mac and Nicol, using the same collateral for both loans. Only Nicol has a perfected security interest. Lena defaults on both loans. The party with first rights to the collateral is A) Lena
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