Answer the Following Questions Using the Information Below:
Sport-In Corporation

question 100

Multiple Choice

Answer the following questions using the information below:
Sport-in Corporation manufactured 10,000 golf bags during April. The following fixed overhead data pertain to March:
$\begin{array}{lrr}&\text { Actual }&\text { Static Budget }\\\text { Production } & 20,000 \text { units } & 20,500 \text { units } \\\text { Machine-hours } & 5,100 \text { hours } & 6,150 \text { hours } \\\text { Fixed overhead cost for March } & \$ 250,000 & \$ 258,300\end{array}$
-What is the flexible-budget amount?

• A) $250,000
• B) $200,500
• C) $258,300
• D) $204,700

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Definitions:

Security Interest

A legal claim or right granted over an asset to secure the performance of an obligation, typically the repayment of a loan.

Enforceable Security

A financial instrument or an interest in property that can be legally upheld and enforced in a court of law.

Attachment

A legal process by which a court orders the seizure of property to secure the satisfaction of a judgment or as a means of obtaining jurisdiction.

Perfection

The process or method by which a secured party obtains a priority in certain collateral belonging to a debtor against creditors or claimants of a debtor; it usually entails giving notice of the security interest, such as by taking possession or filing a financial statement.