Genesis Company Genesis Company Uses a Standard Cost System for Its

question 157

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 efficiency variance?

• A)$1,800 F
• B)$1,800 U
• C)$2,050 U
• D)$2,550 F

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Public Lands

Areas owned and maintained by the government for the use and benefit of the general public.

Earth's Ecosystems

The complex networks of living organisms and their physical environment present on Earth, interacting as a system and including both natural and human-modified ecosystems.

Wilderness Areas

Natural environments on Earth that have not been significantly modified by human activity, designated for conservation and as habitats for numerous species.

Biological Diversity

The encompassing term for the variety among living organisms from all sources, including terrestrial, marine, and other aquatic ecosystems.