Osium Company Made the Following Journal Entry

question 13

Multiple Choice

Osium Company made the following journal entry:

Which of the following statements is true of the given journal entry?

• A) Osium overallocated variable manufacturing overhead.
• B) A $30,000 unfavorable spending variance was recorded.
• C) Work-in-Process is currently overstated.
• D) A $80,000 unfavorable efficiency variance was recorded.

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Definitions:

Single Currency

A monetary system in which a single legal tender is used across an economic or political region, facilitating trade and economic policy.

Foreign Bonds

Bonds issued by a country or company that are not denominated in the currency of the country in which they are sold.

International Bonds

Bonds issued in a country by a foreign entity, in the currency of the country where it is issued, as a way for the issuer to gain access to a foreign capital market.

Eurocurrency

Currency deposited by national governments or corporations in banks outside their home market, typically in a currency not native to the deposit location.