Everett, Inc

question 99

Multiple Choice

Everett, Inc. budgeted $1,488,000 for total overhead. The standard variable overhead rate was $2 per direct labour hour, or $6 per unit, based on an anticipated activity level of 600,000 direct labour hours. During the year 220,000 units were produced. Fixed overhead costs incurred were $300,000. The variable overhead budget variance was $19,800 unfavourable, and the actual variable overhead rate was $2.10 per direct labour hour.
The variable overhead efficiency variance was:

• A) $76,000 U
• B) $63,800 U
• C) $46,200 F
• D) $44,000 F

Analyze the relationship between personal experiences (e.g., successes, reinforcements) and career self-efficacy.

Explain the fundamental tenets of career counseling within a social cognitive framework.

Understand the primary concepts of circumscription and compromise in Gottfredson's theory.

Recognize the influence of childhood development stages on career aspirations.

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Definitions:

Capital Account

An account showing the net worth of a business at a specific point in time, including assets contributed by the owners plus retained earnings.

Capital Deficiency

A situation where a company's current liabilities exceed its current assets, indicating potential financial distress.

Liquidation Process

The procedure of winding up a business's operations, selling off assets to pay creditors, and distributing any remaining assets to owners or shareholders.

Partnership Books

These are the accounting records that capture all financial transactions and the financial state of a partnership.