Examlex

Solved

Use the Following Information to Answer Questions
EKPN Company

question 31

Multiple Choice

Use the following information to answer questions
EKPN Company prepared the following data in its static budget based on 150,000 machine hours:  Direct Materials $450,000 Direct Labour 225,000 Variable Overhead 1,125,000 Fixed Overhead 2,100,000 Actual Results:  Machine Hours  Direct Materials $60,000 hours  Direct Labour $475,000 Variable Overhead 245,000 Fixed Overhead 1,150,0002,110,000\begin{array}{lr}\text { Direct Materials } & \$ 450,000 \\\text { Direct Labour } & 225,000 \\\text { Variable Overhead } & 1,125,000 \\\text { Fixed Overhead } & 2,100,000\\\\\text { Actual Results: } \\\text { Machine Hours } & \\\text { Direct Materials } & \$ 60,000 \text { hours } \\\text { Direct Labour } & \$ 475,000 \\\text { Variable Overhead } & 245,000 \\\text { Fixed Overhead } & 1,150,000 \\& 2,110,000\end{array}
-What is the budgeted Fixed Overhead at the actual level of activity?


Definitions:

Binding Contract

refers to an agreement between parties that is legally enforceable and includes obligations that each party must fulfill.

Emancipated

The legal status attained by a minor, usually through a court order, that grants them the rights and responsibilities of adulthood before reaching the age of majority.

Minor Gets Married

A special legal circumstance where individuals under the age of majority are allowed to enter into marriage, often requiring parental consent or judicial approval.

Disaffirm Contracts

The legal ability of one party to renounce a contract or agreement, thereby rendering it null and void.

Related Questions