If Miller Company Makes the Following Journal Entry: It

question 6

Multiple Choice

If Miller Company makes the following journal entry: It may be inferred that

• A)Miller over-allocated variable manufacturing overhead.
• B)the net variance is a $12,500 favourable rate variance.
• C)actual variable manufacturing overhead costs were $62,500.
• D)the journal entry accounts are incorrect.
• E)the net variance is $12,500 unfavourable.

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Definitions:

T-test

A statistical method employed to assess if there's a significant difference between the average values of two distinct groups.

Critical Value

A point on the test distribution that is compared with the test statistic to determine whether to reject the null hypothesis.

Alpha

The level of significance in statistical testing, representing the probability of rejecting the null hypothesis when it is actually true.

Standard Error

A statistical measure that estimates the accuracy with which a sample distribution represents a population by using standard deviation and sample size.