The Maxit Corporation Has a Standard Costing System in Which

question 279

Multiple Choice

The Maxit Corporation has a standard costing system in which variable manufacturing overhead is assigned to production on the basis of standard machine-hours. The following data are available for July:Actual variable manufacturing overhead cost incurred: $11,310Actual machine-hours worked: 1,600 hoursVariable overhead rate variance: $1,710 UnfavorableTotal variable overhead spending variance: $2,310 UnfavorableThe variable overhead efficiency variance for July is:

• A) $600 Unfavorable
• B) $540 Unfavorable
• C) $540 Favorable
• D) $600 Favorable

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Definitions:

Post-Cold War Era

The period following the end of the Cold War in 1991, characterized by the United States' emergence as the sole superpower and shifts in international relations, geopolitics, and global economy.

Kyoto Protocol

An international treaty that commits state parties to reduce greenhouse gas emissions, based on the premise that global warming exists and human-made CO2 emissions have caused it.

Greenhouse Gases

Gases in Earth's atmosphere that trap heat, including carbon dioxide and methane, contributing to global warming.

Industrial Countries

Nations with significant levels of industrialization and a high standard of living.