Fluegge Incorporated Has Provided the Following Data Concerning One of the Products

question 403

Multiple Choice

Fluegge Incorporated has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. The company has reported the following actual results for the product for December:
The variable overhead efficiency variance for the month is closest to:

• A) $1,003 Unfavorable
• B) $935 Unfavorable
• C) $1,003 Favorable
• D) $935 Favorable

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Definitions:

Estimate

An approximate calculation or judgment of the value, number, quantity, or extent of something.

Coefficient of Determination

A statistical measure, often denoted as R², that represents the proportion of the variance in the dependent variable that is predictable from the independent variable(s).

Coefficient of Correlation

A numerical metric that determines the intensity and course of a straight-line association between two variables that can be quantified.

Sample Coefficient

A measure that quantifies some kind of property or behavior, such as variability or correlation, from a sample of a population.