The Following Information Relates to Regency Manufacturing's Overhead Costs for the Month

question 2

Essay

The following information relates to Regency Manufacturing's overhead costs for the month:
$$\begin{array} { | l | l | } \hline \text { Static budget variable overhead } & \$ 14,200 \\\hline \text { Static budget fixed overhead } & \$ 5,600 \\\hline \text { Static budget direct labor hours } & 1,000 \text { hours } \\\hline \text { Static budget number of units } & 5,000 \text { units } \\\hline\end{array}$$ Regency allocates manufacturing overhead to production based on standard direct labor hours.
Regency reported the following actual results for last month: actual variable overhead,$14,500; actual fixed overhead,$5,400; actual production of 4,700 units at 0.22 direct labor hours per unit.The standard direct labor time is 0.20 direct labor hours per unit.
Compute the variable overhead cost variance.(Round the answer to the nearest dollar. )

Explain the role of price elasticity in decision-making processes.

Understand the concept of price discrimination and its acceptability under specific conditions.

Identify the steps involved in setting prices within a competitive environment.

Recognize the effects of international pricing strategies and the influence of import/export taxes.

---

Definitions:

Neuronal Networks

Systems of interconnected neurons that work together to process and transmit information in the nervous system.

Utero

A term referring to the environment within the uterus; often used in phrases such as "in utero" to describe conditions or treatments occurring during pregnancy.

Biology

The scientific study of life and living organisms, including their structure, function, growth, evolution, and distribution.

Synapse

The tiny gap between the axon of one neuron and the dendrite of another.