A manufacturing company has a standard costing system based on standard direct labor-hours (DLHs) as the measure of activity. Data from the company's flexible budget for manufacturing overhead are given below: Denominator level of activity 3,700DLHsOverhead costs at the denominator activity level: Variable overhead cost$28,490 Fixed overhead cost$47,545 ?The following data pertain to operations for the most recent period: Actual hours 3,900DLHsStandard hours allowed for the actual output 3,850DLHsActual total variable manufacturing overhead cost$29,445 Actual total fixed manufacturing overhead cost$47,995 The variable overhead rate variance for the period was closest to:
A. $585 U
B. $955 U
C. $585 F
D. $955 F
Answer: C
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A team composed of people from different departments who are pursuing a common objective is called a _____. For example, ToysRUs may bring together employees from manufacturing, design, sales, marketing, and market research to brainstorm new board games for adults.
A. quality circle B. problem-solving team C. virtual team D. cross-functional team E. workforce
Rita is on a team that consists of members who work together over time and distance via electronic media to combine effort and achieve common goals. Rita is on a(n)
A. remote team. B. e-team. C. self-managed team. D. virtual team. E. quality improvement team.
Which of the following statements is not true under the Fair Labor Standards Act?
A) Children ages 16 and 17 may work unlimited hours in nonhazardous jobs. B) Persons age 18 or over may work unlimited hours in nonhazardous jobs. C) Children ages 14 and 15 may work limited hours in nonhazardous jobs. D) Children under 14 cannot work at all, except on farms. E) Persons age 18 or over may work unlimited hours in hazardous jobs.
You currently have $67,000 in an interest-earning account. From this account, you wish to make 20 year-end payments of $5,000 each. What annual rate of return must you make on this account to meet your objective?
A) 4.16% B) 5.03% C) 6.42% D) 7.32%