Genesis Company Genesis Company Uses a Standard Cost System for Its

question 220

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:
Refer to Genesis Company. Using the four-variance approach, what is the fixed overhead spending variance?

• A) $ 250 U
• B) $ 250 F
• C) $1,000 U
• D) $2,250 F

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Definitions:

Hematocrit

The percentage of red blood cells in a volume of blood, used to diagnose and manage various medical conditions.

Hemoglobin

A protein in red blood cells that carries oxygen from the lungs to the body's tissues and returns carbon dioxide from the tissues back to the lungs.

Extravasation

Refers to the leakage of a fluid, often blood or drug solutions, from a vessel into the tissues surrounding it.

Hemochromatosis

A genetic disorder causing the body to absorb too much iron from the diet, leading to excess iron deposits in organs.