The Following Information Is Available for the Danske Company Danske Company Had Total Underapplied Overhead of $15,000

question 107

Multiple Choice

The following information is available for the Danske Company:
$\begin{array}{lrr} \text { Denominator hours for May } &15,000\\ \text {Actual hours worked during May } &14,000\\ \text {Standard hours allowed for May } &12,000\\ \text {Flexible budget fixed overhead cost } &\$45,000\\\text { Actual fixed overhead costs for May } &\$48,000\\\end{array}$


Danske Company had total underapplied overhead of $15,000. Additional information is as follows:
$\begin{array}{c}\begin{array}{lll} \text {Variable Overhead:}\\ \text {Applied based on standard direct labor hours allowed }\\\text { Budgeted based on standard direct labor hours}\\\\ \text {Fixed Overhead:}\\ \text {Applied based on standard direct labor hours allowed }\\ \text {Budgeted based on standard direct labor hours}\end{array}\begin{array}{lll}\\\$42,000\\38,000\\\\\\\$30,000\\27,000\end{array}\end{array}$



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What is the fixed overhead price (spending) variance for May?

• A) $1,000 unfavorable.
• B) $3,000 unfavorable.
• C) $2,000 unfavorable.
• D) $2,000 favorable.

Ascertain how modernity entails urbanization, expansion of formal rationality, and shifts towards a money economy.

Appreciate the critique of postmodernism by theorists like Jurgen Habermas.

Understand the concept of distanciation and its importance to modernity.

Recognize Charles Taylor’s contribution to understanding modern institutions and social imaginaries.

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Definitions:

Interest

The cost of borrowing money, typically expressed as a percentage of the principal amount.

Discount Period

The discount period is the timeframe during which a seller offers a buyer a reduction in the amount owed if payment is made within a specified time.

Discounted Note

A debt instrument sold for less than its face value that will pay the face value at maturity, effectively representing a loan made by the buyer to the issuer.

Discount Period

The time frame during which a payment can be made at a reduced price or with a deduction from the usual cost.