Genesis Company Genesis Company Uses a Standard Cost System for Its

question 156

Multiple Choice

Genesis Company Genesis Company uses a standard cost system for its production process and applies overhead based on direct labor hours.The following information is available for September when Genesis produced 5,000 units:
$\begin{array}{ll}\text { Standard: }\\\text { DLH per unit } & 3.00\\\text { Variable overhead per DLH } & \$ 1.80 \\\text { Fixed overhead per DLH } & \$ 3.25 \\\text { Budgeted variable overhead } & \$ 27,250\\\text { Budgeted fixed overhead } & \$ 49,500\\\\\text { Actual: }\\\text {Direct labor hours }&16,000\\\text { Variable overhead}&\$31,325\\\text { Fixed overhead}&\$49,750\\\end{array}$ Refer to Genesis Company.Using the three-variance approach,what is the spending variance?

• A)$2,525 U
• B)$2,775 U
• C)$4,375 U
• D)$4,375 F

Comprehend strategies for effectively responding to requests for adjustments and handling claims.

Recognize the impact and role of communication technology, including bots and social media, in business communication.

Identify the advantages of social media over traditional communication methods in releasing business news.

Understand the significance and structure of goodwill messages in maintaining business relations.

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Definitions:

Femoral vein

A major blood vessel in the thigh and leg that returns oxygen-depleted blood back to the heart.

Inguinal veins

Blood vessels located in the inguinal (groin) area that drain blood from the lower limbs back to the heart.

Median cubital

Referring to the median cubital vein, a prominent vein located in the cubital fossa of the arm, commonly used for venipuncture.

Cephalic veins

Superficial veins located in the lateral aspect of the arm, often used for intravenous access or blood drawing.