Pearl CoProduces Pearl Necklaces and Uses a Standard Cost System

question 78

Essay

Pearl Co.produces pearl necklaces and uses a standard cost system.Fixed overhead is applied to production at a rate of $34 per unit,based on budgeted production of 3,000 per month.During December,Pearl produced 3,100 pearl necklaces.Fixed overhead incurred totaled $114,940.Calculate the:
a.fixed overhead spending variance.
b.fixed overhead volume variance.
c.over- or underapplied fixed overhead.

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Definitions:

Thorazine

A medication primarily used to treat psychotic disorders such as schizophrenia, known chemically as chlorpromazine.

Clozaril

A brand name for clozapine, an antipsychotic medication used to treat schizophrenia when other treatments have failed.

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A condition where an individual experiences a lack of emotional reactivity, often feeling numb or detached from emotions.

Antipsychotic Drugs

Medications used to treat psychiatric conditions by altering brain chemistry to reduce psychotic symptoms like hallucinations and delusions.