Franklin Glass Works Uses a Standard Cost System in Which

question 104

Multiple Choice

Franklin Glass Works uses a standard cost system in which manufacturing overhead is applied on the basis of standard direct labor-hours. Each unit requires two standard hours of direct labor for completion. The denominator activity for the year was based on budgeted production of 200,000 units. Total overhead was budgeted at $900,000 for the year, and the fixed manufacturing overhead rate was $1.50 per direct labor-hour. The actual data pertaining to the manufacturing overhead for the year are presented below:
-Franklin's variable overhead efficiency variance for the year is:

• A)$33,000 unfavorable
• B)$35,200 favorable
• C)$35,200 unfavorable
• D)$33,000 favorable

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Definitions:

Assessment Methods

Techniques and tools used to evaluate, measure, and document the knowledge, skills, attitudes, and beliefs of an individual or group.

Normal Distribution

A statistical distribution where most observations cluster around the central peak and the probabilities for values further away from the mean taper off equally in both directions.

Scores

Numerical expressions resulting from the evaluation or measurement of something, often used for comparisons or assessments.

Personality Scales

Tools or instruments used to assess and measure individual personality characteristics and traits.