Venus Company Applies Overhead Based on Direct Labor Hours

question 13

Multiple Choice

Venus Company applies overhead based on direct labor hours.The variable overhead standard is 10 hours at $3.50 per hour.During October,Venus Company spent $157,600 for variable overhead.47,440 labor hours were used to produce 4,800 units.What is the over- or underapplied variable overhead?

• A)$10,400 overapplied
• B)$8,440 overapplied
• C)$8,440 underapplied
• D)$1,960 overapplied

Evaluate the market value of a firm based on its assets and liabilities.

Calculate shareholders' equity based on company's assets and liabilities.

Understand and calculate key financial metrics such as net income, dividends, and interest expenses.

Analyze and interpret the significance of current assets, working capital, and cash flow statements.

---

Definitions:

Market Revolution

A significant change in the U.S. economy in the early 19th century, driven by innovations in transportation, communication, and production that created a more interconnected market system.

Internal Borderland

A term used to describe areas within a country that lie on the margins of cultural, economic, or political power, often fostering unique identities or conflicts.

Primary Cell

A voltaic cell that cannot be recharged.

Secondary Cell

A voltaic cell that can be recharged.