Answer the Following Questions Using the Information Below:
PlasticsRus Pty

question 89

Multiple Choice

Answer the following questions using the information below:
PlasticsRus Pty Ltd manufactured 100 000 buckets during February.The overhead cost-allocation base is $5.00 per machine-hour.The following variable overhead data pertain to February:
$$\begin{array} { l r r } & \text { Actual } & \text { Budgeted } \\\text { Production } & 100000 \text { units } & 100000 \text { units } \\\text { Machine-hours } & 9800 \text { hours } & 10000 \text { hours } \\\text { Variable overhead cost per machine-hour } & \$ 5.25 & \$ 5.00\end{array}$$
-What is the actual variable overhead cost?

• A)$49 000
• B)$50 000
• C)$51 450
• D)None of these answers are correct.

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Definitions:

Equal Interest

A situation where all parties or stakeholders hold an identical percentage or stake in an agreement, asset, or entity, ensuring a fair distribution of rights and obligations.

Unanimous Consent

Unanimous consent refers to an agreement or decision made with the approval of all parties involved, often used in corporate governance contexts to expedite decisions without a formal vote.

AASB 11

An Australian accounting standard that addresses the accounting for interests in joint arrangements, specifying how an entity should report its interests.

Joint Arrangement

A contractual arrangement in which the parties involved have joint control over the decision making in relation to the joint arrangement.