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The standard factory overhead rate is $7.50 per machine hour ($6.20 for variable factory overhead and $1.30 for fixed factory overhead) based on 100% of normal capacity of 80,000 machine hours. The standard cost and the actual cost of factory overhead for the production of 15,000 units during August were as follows:
-Incurring actual indirect factory wages in excess of budgeted amounts for actual production results in a _____ variance.
Cash Over
Refers to a situation where the actual cash amount received is greater than the expected or recorded amount.
Cash Sales
Transactions in which goods or services are exchanged for cash payment at the time of the sale.
Electronic Funds Transfers
The digital transfer of money from one bank account to another either within the same financial institution or across different banks, via computer-based systems.
Principal Advantages
Key benefits or main positives associated with a method, strategy, or system.
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