Figure 11-4

question 71

Multiple Choice

Figure 11-4. Kris Company calculates its predetermined rates using practical volume,which is 325,000 units.The standard cost system allows 3 direct labor hours per unit produced.Overhead is applied using direct labor hours.The total budgeted overhead is $4,260,000,of which $994,000 is fixed overhead.The actual results for the year are as follows:
Refer to Figure 11-4.The predetermined fixed overhead rate is

• A)$3.35 per direct labor hour.
• B)$1.02 per direct labor hour.
• C)$5.50 per direct labor hour.
• D)$4 per direct labor hour.
• E)none of these.

Recognize and explain the role and purposes of government, including maintaining order and protecting liberties.

Understand the concepts of liberty, and the balance between individual freedoms and government authority.

Describe the impact of political ideologies on government policies, focusing on conservatism, liberalism, and libertarianism.

Identify the foundation and importance of civil liberties as guaranteed by the Bill of Rights.

---

Definitions:

Cost Method

An accounting method used to value inventory or investments at their original purchase cost.

Equity Method

An accounting technique used by a company to record its investment in another company.

Unrealized Gain/Loss

A profit or loss that results from holding an investment that has not yet been sold, and thus, the gain or loss is not reflected in the financial statements.

Government Bonds

Debt securities issued by a government to support government spending, considered low-risk investments since they are backed by the taxing power of the issuing government.