Reference: 11-11
the Clark Company Makes a Single Product and Uses

question 122

True/False

Reference: 11-11
The Clark Company makes a single product and uses standard costing. Variable overhead is assigned to production on the basis of direct labour hours. Some data concerning this product for the month of May follow: $$\begin{array} { | l | l | l | } \hline \text { Labour rate variance: } & \$ 7,000 & \mathrm {~F} \\\hline \text { Labour efficiency variance: } & \$ 12,000 & \mathrm {~F} \\\hline \text { Variable overhead efficiency variance: } & \$ 4,000 & \mathrm {~F} \\\hline \text { Number of units produced: } & 10,000 & \\\hline \text { Standard labour rate per direct labour hour: } & \$ 12 & \\\hline \text { Standard variable overhead rate per direct labour hour: } & \$ 4 & \\\hline \text { Actual labour hours used: } & 14,000 & \\\hline \text { Actual variable manufacturing overhead costs: } & \$ 58,290 & \\\hline\end{array}$$
-If a company using a flexible budget has a sales revenue variance, the variance results solely from differences in budgeted versus actual selling prices.

Analyze social categorization and its influence on group behavior and identity.

Explore strategies to improve social identity including social creativity and competition.

Understand the concept of social identity and its applications in explaining social phenomena like deindividuation, crowd behavior, and intergroup dynamics.

Comprehend the principles of optimal distinctiveness and how individuals balance group membership with expressing individuality.

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Definitions:

Hedonism

A philosophy or lifestyle focused on seeking pleasure and avoiding pain as the highest good or main goal of life.

Happiness

Happiness is a state of emotional well-being characterized by feelings of joy, satisfaction, contentment, and fulfillment.

Pleasure Drive

An inherent drive towards activities or experiences that provide pleasure, often associated with Freudian psychoanalytic theory.

Free Spiritedness

A personality trait characterized by spontaneity, independence, and a disdain for restrictions.