The Balances in the Variable Overhead Control Account and the Variable

question 2

Multiple Choice

The balances in the variable overhead control account and the variable overhead control account are $120,000 and $125,000 respectively. The variable overhead spending variance is $6,000 and the variable overhead efficiency variance is $11,000. Which of the following entries would be required to record the variances in a standard costing system?

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Definitions:

Telecommunication Companies

Businesses that provide services related to communications, such as telephone, internet, and cable services, often through a network of satellites and cables.

BBC

The British Broadcasting Corporation, a public service broadcaster in the United Kingdom known for providing news, education, and entertainment.

Government Approval

A formal endorsement by a relevant authority to allow policies, projects, or activities to proceed.

Private Corporation

A business owned by private individuals or shareholders and operated for profit, independent of state control.