The Amount of the Variable Factory Overhead Controllable Variance Is

question 1

Multiple Choice

The amount of the variable factory overhead controllable variance is

• A) $2,000 unfavorable
• B) $3,000 favorable
• C) $0
• D) $3,000 unfavorable

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Definitions:

Liability Account

An account on a company's balance sheet that represents obligations or debts that the company is responsible for repaying.

Error

An unintentional mistake in financial records or transactions, which can result from miscalculations, misunderstandings, or misinterpretations of financial data.

Transactions

Financial activities that involve the exchange of assets, provision of services, or other business activities that affect a company's financial position.

Debit And Credit

In accounting, debit and credit are entries that record changes in value to accounts, where debits increase asset or expense accounts and decrease liability, equity, and revenue accounts.