Answer the Following Question(s)using the Information Below

question 127

Multiple Choice

Answer the following question(s) using the information below.Jenny's Corporation manufactured 25,000 grooming kits for horses during March.The fixed-overhead cost allocation rate is $20.00 per machine-hour.The following fixed overhead data pertain to March:

-What is the fixed overhead rate variance?

• A)$1,000 unfavourable
• B)$2,000 favourable
• C)$3,000 unfavourable
• D)$5,000 favourable
• E)$983 unfavourable

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Definitions:

Damages Award

Financial compensation ordered by a court to be paid to a plaintiff by a defendant as reparation for harm or injury.

Fundamental Breach

A serious violation of a contract that permits the aggrieved party to terminate the agreement and sue for damages.

Exemption Clause

A part of a contract that seeks to limit a party's liability for breaches of the contract or negligence, often subject to legal restrictions.

Bailment Contract

An agreement where physical possession of personal property is transferred from one party to another, with the understanding that the property will be returned.