Bismith Company Reported: To Record the Write-Off of These Variances at the End

question 62

Multiple Choice

Bismith Company reported:

To record the write-off of these variances at the end of the accounting period,Bismith would ________.

• A)credit Fixed Manufacturing Overhead Allocated for $700,000
• B)debit Fixed Manufacturing Overhead Spending Variance for $40,000
• C)credit Fixed Manufacturing Production-Volume Variance for $30,000
• D)debit Fixed Manufacturing Control for $700,000

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Definitions:

Keirestu

A network of Japanese companies organized around a bank or a major manufacturing company, known for their close interrelations and support.

Multinational Companies

Corporations that operate and have assets and facilities in several countries outside of their headquarters' home country, participating in global trade and economy.

Local Companies

Businesses that operate within a specific regional or community area, often catering to the local population.

Fiduciary Duty

A legal obligation of one party to act in the best interest of another when entrusted with certain duties and responsibilities.