Figure 17-6 -Refer to Figure 17-6

question 75

Multiple Choice

Figure 17-6 $\begin{array}{lr}\text { Budgeted fixed overhead for the year } & £ 300,000 \\\text { Budgeted direct labour hours for the year } & 30,000 \\\text { Actual fixed overhead for August } & £ 24,000 \\\text { Actual variable overhead for August } & £ 10,000 \\\text { Direct labour hours worked in August } & 2,600 \\\text { Standard variable overhead cost per direct labour hour } & £ 4 \\\text { Standard direct labour hours allowed for August production } & 2,750\end{array}$
-Refer to Figure 17-6. The standard rate for total overhead is

• A)£14.
• B)£13.
• C)£10.
• D)£4.

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Definitions:

Privately Held Corporation

A privately held corporation is a business entity owned by private investors, shareholders, or company members, and not publicly traded on stock exchanges.

Toronto Stock Exchange

Canada's largest stock exchange, located in Toronto, Ontario, where stocks, bonds, and other securities are bought and sold.

Public

The general population or community at large, often referenced in the context of public companies, public offering, or information accessibility.

Contributed Surplus

The amount of money in excess of the par value of shares that shareholders have contributed to a company.