(Appendix 11A)Omary Corporation Has a Standard Cost System in Which

question 63

Multiple Choice

(Appendix 11A) Omary Corporation has a standard cost system in which it applies manufacturing overhead to products on the basis of standard machine-hours (MHs) .The company has provided the following data for the most recent month: What was the total of the variable overhead rate and fixed manufacturing overhead budget variances for the month?

• A)$1, 520 Unfavorable
• B)$3, 180 Favorable
• C)$4, 820 Unfavorable
• D)$6, 340 Unfavorable

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Definitions:

Canadian Dollars

The official currency of Canada, often symbolized as CAD.

Translation Gain/Loss

The gain or loss resulting from the conversion of financial statements from one currency to another for consolidation purposes.

Cumulative Translation Gains/Losses

The aggregate change in the value of a foreign entity's equity due to differences in exchange rates over time, recognized in the accumulated other comprehensive income section of equity.

British Pound Sterling

The official currency of the United Kingdom, which is one of the world's major currencies traded on foreign exchange markets.