Tidd Corporation Makes a Product with the Following Standard Costs

question 143

Multiple Choice

Tidd Corporation makes a product with the following standard costs: The company reported the following results concerning this product in November. 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 efficiency variance for November is:

• A)$2,680 F
• B)$2,546 F
• C)$2,680 U
• D)$2,546 U

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Definitions:

Economic Growth

An increase in a country’s ability to produce goods and services, reflected in an increase in real GDP over time.

Human Capital Investment

The process of increasing the value of a workforce through education, training, and health improvements.

Technologies

The application of scientific knowledge for practical purposes, especially in industry and everyday life.

Resource Endowments

The natural resources, capital, and human skills that a country or region possess, which can influence its economic development and trade patterns.