Mauve Company Uses a Standard Cost System in Which It

question 16

Multiple Choice

Mauve Company uses a standard cost system in which it applies manufacturing overhead to units of product on the basis of standard direct labor-hours (DLHs) .The following data pertain to last month: $\begin{array}{c}\begin{array}{lll}\text { Actual hours worked..........................................}\\\text { Budgeted fixed manufacturing overhead costs....}\\\text { Actual fixed manufacturing overhead costs........}\\\text { Standard hours allowed.....................................}\\\text { Predetermined overhead rate............................}\end{array}\begin{array}{lll}2,400 & \text { DLHs } \\\$ 10,000 & \\\$ 10,400 & \\2,500 & \text { DLHs } \\\$ 5 & \text { per DLH }\end{array}\end{array}$
The fixed manufacturing overhead budget variance is:

• A)$400 U
• B)$500 F
• C)$300 F
• D)$300 U

Recognize different forms of cash and cash equivalents.

Comprehend the consequences and requirements of the Sarbanes-Oxley Act (SOX).

Identify the objectives of internal control systems.

Recognize the limitations and considerations of internal control systems.

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Definitions:

Management Decision

A choice or judgement made by the leaders or executives of an organization regarding the direction or operation of the organization.

Coping Patterns

Behavior strategies that individuals use to manage stress, adversity, or trauma, ranging from healthy mechanisms to maladaptive behaviors.

Recent Weight Changes

Alterations in body weight over a short period, which may indicate health issues or the effectiveness of a diet or exercise regimen.

Current Stressors

Present or recent external pressures or events that are causing stress or challenging an individual's ability to cope.