The Standard Costs and Actual Costs for Factory Overhead for the Manufacture

question 9

Multiple Choice

The standard costs and actual costs for factory overhead for the manufacture of 2,500 units of actual production are as follows: The amount of the total factory overhead cost variance is:

• A) $2,000 favorable
• B) $5,000 unfavorable
• C) $2,500 unfavorable
• D) $0

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Definitions:

Settlor

An individual or entity that creates a trust by legally transferring assets to a trustee for the benefit of beneficiaries.

Trust Created

The establishment of a fiduciary relationship where a trustee holds and manages assets on behalf of a beneficiary.

Constructive Trust

(1) An implied trust in which a party is named to hold the trust for its rightful owner. (2) An equitable trust imposed on someone who wrongfully obtains or holds legal right to property he or she should not possess.

Created

Brought into existence; the act or process of bringing something into being that did not exist before.