Bressman Inc

question 96

Multiple Choice

Bressman 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 May:

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

• A) $268 U
• B) $268 F
• C) $276 F
• D) $276 U

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Definitions:

Balance Sheet

A summary record that outlines a firm's assets, liabilities, and equity held by shareholders at a specific timeframe, showing its financial status.

Statement of Owner's Equity

A financial statement that outlines the changes in the equity of a company over a specific period, including contributions, withdrawals, and the net income or loss.

Worksheet

An accounting tool used for planning and preparing financial statements, allowing accountants to adjust and update figures through a series of adjustments.

Depreciation Expense

the systematic allocation of the cost of a tangible asset over its useful life, reflecting the asset's consumption or wear and tear.