Answer the Following Questions Using the Information Below

question 76

Multiple Choice

Answer the following questions using the information below:
Veach Corporation incurred fixed manufacturing costs of $6,000 during 2015. Other information for 2015 includes:
The budgeted denominator level is 1,000 units.
Units produced total 750 units.
Units sold total 600 units.
Beginning inventory was zero.
The company uses variable costing and the fixed manufacturing cost rate is based on the budgeted denominator level. Manufacturing variances are closed to cost of goods sold.
-Fixed manufacturing costs expensed on the income statement (excluding adjustments for variances) total ________.

• A) $3,600
• B) $4,800
• C) $6,000
• D) 0

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Definitions:

Micro Perspective

An approach focusing on small scale interactions or individual elements within a system, in contrast to macro perspectives which look at larger scale patterns or structure.

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A structured method for group brainstorming that encourages contributions from everyone in the group to identify solutions to problems.

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A statistical method for modeling the relationship between a single independent variable and a dependent variable.