Gina Production Company Uses a Standard Costing System

question 146

Multiple Choice

Gina Production Company uses a standard costing system.The following information pertains to 2011. The factory overhead rate is based on an activity level of 10,000 units.Standard cost data for 5,000 units is as follows:
What is the variable overhead efficiency variance for Gina Production Company?

• A)$562.50 F
• B)$3,000.00 U
• C)$562.50 U
• D)$1,687.50 F

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Definitions:

Human Capital

The total capabilities, knowledge, and non-material assets belonging to individuals that have the capability to produce monetary value for the people themselves, their employers, or their surrounding community.

External Demand

The desire or need for products or services that comes from outside an organization, influencing production levels, marketing strategies, and business growth.

Internal Human Capital

The knowledge, skills, and abilities that employees possess, which are utilized and valued within their current organization.

HR Policies

Guidelines and structured plans created by an organization to manage its human resources and provide fair treatment to employees.