Irving Corporation Makes a Product with the Following Standards for Direct

question 234

Multiple Choice

Irving Corporation makes a product with the following standards for direct labor and variable overhead: In November the company's budgeted production was 5,300 units, but the actual production was 5,100 units. The company used 1,650 direct labor-hours to produce this output. The actual variable overhead cost was $7,590. The company applies variable overhead on the basis of direct labor-hours.
The variable overhead rate variance for November is:

• A) $612 U
• B) $660 U
• C) $660 F
• D) $612 F

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Definitions:

Loftus

Elizabeth Loftus, a cognitive psychologist known for her work on the malleability of human memory and the misinformation effect.

Memories of the Accident

The recollections retained in the brain related to a specific traumatic or significant incident.

Positive Transfer

When knowledge or skills acquired in one context improve performance in another context.

Knowledge of Latin

Understanding and proficiency in the Latin language, once widely used in Europe and still used in specific contexts like legal, scientific, and religious texts.