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Use the following information for the next 4 questions.
Hogle Mfg. Co. uses a standard costing system. The standard time to produce one unit is 4 hours, and normal production is 3,000 units monthly. Overhead costs were estimated to be $135,000. The standard variable overhead rate is $5 per machine hour. During April the following results were recorded:
-The variable overhead efficiency variance was
Actual Output
The real quantity of goods or services produced by a company or a production process, as opposed to planned or theoretical output.
Analysis
The process of examining data or details in order to understand or explain them, typically used to solve problems or make decisions.
Costs Equals Revenues
This refers to a break-even point where the amount of money a company makes from selling goods or services equals the amount it costs to produce them.
Break-even Analysis
An examination to determine the point at which revenue received equals the costs associated with receiving the revenue.
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