Spice Simmers Provided the Following Information from Its Accounting Records

question 110

Multiple Choice

Spice Simmers provided the following information from its accounting records for 2020: $\begin{array}{ll} \text { Expected production } & \text { 30,000 labour hours }\\ \text {Actual production } & \text { 28,000 labour hours}\\ \text {Budgeted overhead } &\$1,500,000\\ \text { Actual overhead } &\$1,450,000\\\end{array}$

How much is the overhead application rate if Spice Simmers bases the rate on direct labour hours?

• A)$51.79 per direct labour hour
• B)$48.33 per direct labour hour
• C)$50 per direct labour hour
• D)$46.67 per direct labour hour

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Definitions:

Short-Term Memory

The capacity for holding a small amount of information in an active, readily available state for a short period of time.

Working Memory

The part of short-term memory that is concerned with immediate conscious perceptual and linguistic processing.

Long-Term Memory

The ability to store information for extended periods, often throughout an individual's life, distinguished from short-term or working memory.

Procedural Memory

A type of long-term memory involved in the acquisition of motor skills and habits, responsible for knowing "how" to do things.