Ortman Corporation Makes a Product with the Following Standard Costs

question 145

Multiple Choice

Ortman Corporation makes a product with the following standard costs: The company reported the following results concerning this product in May. The company applies variable overhead on the basis of direct labor-hours.The direct materials purchases variance is computed when the materials are purchased. The variable overhead rate variance for May is:

• A)$112 F
• B)$112 U
• C)$109 F
• D)$109 U

---

Definitions:

Organizational Development

Organizational development is a field of research, theory, and practice dedicated to expanding the knowledge and effectiveness of people to accomplish more successful organizational change and performance.

Labour Market Supply

The total number of people available for work in a specific job market, including those currently employed and those seeking employment.

Linear Programming

A mathematical technique used for allocation of resources optimally, often applied in optimizing production processes, logistics, and other operational areas.

Delphi Technique

A forecasting method that involves gathering the opinions of experts through multiple rounds of questionnaires to reach consensus on future events or decisions.