Irving Corporation Makes a Product with the Following Standards for Direct

question 234

Multiple Choice

Irving Corporation makes a product with the following standards for direct labor and variable overhead:
In November the company's budgeted production was 5,300 units, but the actual production was 5,100 units. The company used 1,650 direct labor-hours to produce this output. The actual variable overhead cost was $7,590. The company applies variable overhead on the basis of direct labor-hours.
-The variable overhead rate variance for November is:

• A) $612 U
• B) $660 U
• C) $660 F
• D) $612 F

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Definitions:

Top-Management

The highest level of management in an organization, including positions such as CEO, CFO, and other senior executives, responsible for strategic decisions and overall direction.

Social Responsibility Contributions

Efforts and actions taken by businesses to benefit society, including philanthropy, sustainability initiatives, and ethical labor practices.

Economic Contributions

The impact or input of an individual, group, or sector towards the economic development or sustainability of a community, region, or nation.

Short-Term Profits

Short-term profits are earnings realized from business operations or investments over a brief period, typically within a fiscal quarter or year, focusing on immediate financial gain.