George Company Has a Standard Costing System

question 2

Essay

George Company has a standard costing system. The following data are available for July:
a. Actual manufacturing overhead cost incurred: $22,000
b. Actual machine hours worked: 1,600
c. Overhead volume variance: $3,600 Unfavorable
d. Total overhead variance: $1,000 Unfavorable
e. Overhead is assigned to production on the basis of machine hours
Instructions
Determine the amount of (1) the controllable overhead variance and (2) the overhead applied.

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Definitions:

Union Substitution

A strategy employed by employers to avoid unionization among their employees, often by providing benefits similar to those a union would negotiate.

Management Policies

Guidelines and principles adopted by an organization's leadership to govern decisions and actions within the company.

Harassment

Unwanted and unwelcomed behavior that creates an intimidating, hostile, or offensive work environment.

Financialization

The increasing influence of financial markets, financial motives, financial institutions, and financial elites on the economy and society at large.