Judd Company Uses Standard Costs for Its Manufacturing Division At the End of the Year,actual Data Were as Follows

question 101

Multiple Choice

Judd Company uses standard costs for its manufacturing division.Standards specify 0.2 direct labor hours per unit of product.The allocation base for variable overhead costs is direct labor hours.At the beginning of the year,the static budget for variable overhead costs included the following data: $$\begin{array} { | l | l | } \hline \text { Production volume } & 6100 \text { units } \\\hline \text { Budgeted variable overhead costs } & \$ 14,000 \\\hline \text { Budgeted direct labor hours } & 600 \text { hours } \\\hline\end{array}$$ At the end of the year,actual data were as follows:
$$\begin{array} { | l | l | } \hline \text { Production volume } & 4200 \text { units } \\\hline \text { Actual variable overhead costs } & \$ 15,100 \\\hline \text { Actual direct labor hours } & 480 \text { hours } \\\hline\end{array}$$ What is the variable overhead cost variance? (Round any intermediate calculations to the nearest cent,and your final answer to the nearest dollar.)

• A)$14,000 U
• B)$15,100 F
• C)$3902 U
• D)$4878 F

Analyze the impact of external market forces on equilibrium points and firm behavior.

Understand the difference between diminishing marginal productivity and its effect on total product versus total cost.

Grasp the basic concept of profit calculation and the distinction between total revenue and total cost.

Comprehend the scope and focus of industrial organization, including its analysis of market dynamics and firm behavior.

---

Definitions:

Intelligence

The ability to learn from experience, adapt to new situations, understand complex concepts, and use knowledge to manipulate one's environment.

Power

Power is the capacity or ability to direct or influence the behavior of others or the course of events, often exercised through social, economic, or political means.

Neuromarketing

A field of marketing research that studies consumers' sensorimotor, cognitive, and affective response to marketing stimuli, using techniques from neuroscience.

Perception

The process by which individuals interpret sensory information to give meaning to their environment and experiences.