Pippin Inc

question 114

Multiple Choice

Pippin Inc. 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 June:

-The variable overhead rate variance for the month is closest to:

• A) $460 U
• B) $510 F
• C) $510 U
• D) $460 F

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Definitions:

Population Variances

A measure of the spread or distribution of a set of data points in a population, indicating how much the values differ from the mean.

Estimate

An approximation or informed guess of a quantity or value when the exact number is unknown or uncertain.

Sample Variance

A measure of the dispersion or spread of the sample data points around the sample mean, estimating the variance of the population from which the sample was drawn.

Treatment

In experimental research, an intervention or condition applied to subjects to observe its effects on some outcome or variable.