The Following Information for the Past Year Is Available from Thinnews

question 133

Multiple Choice

The following information for the past year is available from Thinnews Co., a company that uses machine hours to apply standard factory overhead cost to outputs: $\begin{array}{lrr}\text { Actual total factory overhead cost incurred } & \$ 24,000 \\\text { Actual fixed overhead cost incurred } & \$ 10,000 \\\text { Budgeted fixed overhead cost } & \$ 11,000 \\\text { Actual machine hours } & 5,000 \\\text { Standard machine hours allowed for the units manufactured } & 4,800 \\\text { Denominator volume-machine hours } & 5,500 \\\text { Standard variable overhead rate per machine hour } & \$ 3.00\end{array}$ The standard fixed overhead application rate, to two (2) decimal places, is:

• A) $1.00 per machine hour.
• B) $2.00 per machine hour.
• C) $3.00 per machine hour.
• D) $4.00 per machine hour.
• E) $5.00 per machine hour.

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Definitions:

Liberty

Existing in a societal state that lacks any oppressive measures by authorities affecting one’s lifestyle, actions, or political stance.

Eligible to Vote

The qualification or criteria that allow an individual the right to participate in electoral processes, typically determined by age, citizenship, and absence of legal incapacities.

Eighteenth Century

The period from January 1, 1701, through December 31, 1800, marked by significant world events like the Enlightenment, the American Revolutionary War, and the beginning of the Industrial Revolution.

British Freedom

The concept and historical pursuit of civil liberties and democratic principles in British governance and society.