The Bartok Company Uses a Standard Cost Accounting System and Estimates

question 121

Essay

The Bartok Company uses a standard cost accounting system and estimates production for the year to be 60,000 units. At this volume, the company's variable overhead costs are $0.50 per direct labor hour.
The company's single product has a standard cost of $30.00 per unit. Included in the $30.00 is $13.20 for direct materials (3 yards) and $12.00 of direct labor (2 hours). Production information for the month of March follows:
$$\begin{array} { l r } \text { Number of units produced } & 6,000 \\\text { Materials purchased (18,500yards) } & \$ 88,800 \\\text { Materials used in production (yards) } & 18,500 \\\text { Variable overhead costs incurred } & \$ 6,380 \\\text { Fixed overhead costs incured } & \$ 20,400 \\\text { Direct labor cost incurred (\$6.50/hour) } & \$ 75,400\end{array}$$
Required:
(Be sure to indicate whether the variances are favorable or unfavorable.)
a. Compute the predetermined overhead rate used for the year
b. Compute the budgeted fixed costs for the month.
c. Compute the variable overhead spending variance.
d. Compute the variable overhead efficiency variance.
e. Compute the fixed overhead spending (budget) variance.
f. Compute the production volume variance.

Comprehend fundamental principles of evolutionary theory and its application to human reasoning.

Recognize the Turing test and its implications for artificial intelligence.

Acknowledge the role of dreams in problem-solving and creativity.

Understand the significance of Charles Darwin's theory in counteracting the argument from design.

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Definitions:

Negative Frequency-Dependent Selection

Negative frequency-dependent selection occurs when rare genotypes have a fitness advantage simply because they are rare, helping to maintain genetic diversity within populations.

Pleiotropy

The genetic phenomenon where a single gene influences multiple phenotypic traits, demonstrating the complex nature of gene action.

Foraging Strategy

The behavioral patterns and techniques employed by animals, including humans, to find and gather food.

Allele Frequency

The relative frequency of an allele (variant of a gene) at a particular gene locus in a population, indicating genetic diversity.