Use the Following Information for the Next 4 Questions

question 72

Multiple Choice

Use the following information for the next 4 questions.
Burkett Company uses a standard cost system. Indirect costs were budgeted at $200,000 plus $15 per direct labor hour. The overhead rate is based on 10,000 hours. Actual results were:
-The fixed overhead production volume variance was

• A) $15,000 F
• B) $20,000 U
• C) $10,000 F
• D) $10,000 U

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Definitions:

Population Mean

The average value of all the items in a population.

Confidence Level

A measure of certainty or probability, expressed as a percentage, that a specified parameter lies within a specified interval in statistical analysis.

Sample Size

The number of observations or data points collected from a population for the purpose of statistical analysis.

Confidence Interval

A span of numbers, obtained from sampled data, that probably includes the value of an unseen population measure within a specified confidence level.