Use the Following Information for the Next 5 Questions

question 102

Multiple Choice

Use the following information for the next 5 questions.
Mason, Inc. uses a standard costing system. Overhead costs are allocated based on direct labor hours. The standard variable overhead and fixed overhead rates are $1 and $5 per direct labor hour, respectively. Data relevant for the current period include:
-Given the following account balances at the end of the first year of operations: Assuming that variances are considered material, the entry and amount of direct labor variances allocated to the Finished Goods Inventory is

• A) Credit $3,740
• B) Debit $2,160
• C) Credit $770
• D) Debit $3,960

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Definitions:

Psoas Major

A large muscle that runs from the lumbar region of the vertebral column to the femur, important for flexing the hip joint.

Iliacus

A muscle of the pelvic region that acts with the psoas major to flex the thigh at the hip joint.

Biceps Femoris

A muscle of the thigh that forms part of the hamstrings, involved in knee flexion and hip extension.

Vastus Intermedius

is a muscle located in the thigh, lying deep to the rectus femoris and part of the quadriceps muscle group.