Use the Following Information for the Next 3 Questions

question 99

Multiple Choice

Use the following information for the next 3 questions.
Anacortes, Inc. uses a standard cost system. At the beginning of the year, it budgeted $50,000 for fixed overhead. The estimated variable overhead allocation rate was $3.30 per machine hour, and machine hours is the cost allocation base for both variable and fixed overhead. The static budget was based on 16,000 units of production and sales, and each unit was expected to use 2.5 machine hours. Actual total overhead was $170,000, and Anacortes produced and sold 15,000 units during the year. Actual machine hours for the year were 36,000.
-The fixed overhead production volume variance was

• A) $4,950 favorable
• B) $3,750 favorable
• C) $1,200 unfavorable
• D) $3,125 unfavorable

Understand and apply the concept of dividends and their impact on shareholder wealth.

Analyze the effects of stock transactions across different points in time, including the purchase, sale, and dividends received.

Calculate the total dividend income based on shares held and dividend policies.

Understand the procedure and financial implications of stock splits and their effect on market price per share.

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