Use the Information Below to Answer the Following Question(s)

question 11

Multiple Choice

Use the information below to answer the following question(s) .
Michelle Inc. uses a level 4-variance analysis of its manufacturing overhead costs, and has the following results for April.
A. Budgeted direct labour-hours per unit is used to allocate variable manufacturing overhead.
B. Budgeted amounts for April 2012 are:
C. Actual amounts for April 2012 are:

-What is the fixed manufacturing overhead rate variance?

• A) $10,000 favourable
• B) $10,000 unfavourable
• C) $13,500 unfavourable
• D) $13,500 favourable
• E) $14,625 favourable

Identifying and summarizing the requirements of negotiability as stipulated by the Code.

Analyzing how discrepancies in the written and numerical amount on checks are resolved.

Comparing and contrasting notes and certificates of deposit in terms of similarities and differences.

Evaluating the negotiability of various instruments based on specified criteria.

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Definitions:

Mutual Mistake

A situation where all parties involved in a contract are mistaken about a fundamental fact at the time of contract formation, potentially making the contract voidable.

Risk Of Mistake

A legal principle concerning the risks associated with the potential for misunderstanding or miscommunication in the terms of a contract or agreement.

Accepted The Risk

The concept in law where an individual acknowledges and willingly exposes themselves to a known danger or risk.

Limited Information

Availability of only partial data or details about a subject, making comprehensive understanding or decision-making difficult.