The Upton Company Uses a Standard Costing System in Which

question 70

Multiple Choice

The Upton Company uses a standard costing system in which variable overhead is assigned to production on the basis of standard direct labor-hours. Data for the month of February include the following:
Variable overhead cost incurred: $48,700
Total variable overhead variance: $300 F
Standard hours allowed for actual production: 7,000
Actual direct labor-hours worked: 6,840
-The standard variable overhead rate per direct labor-hour is:

• A) $6.91
• B) $6.95
• C) $7.00
• D) $7.12

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Definitions:

Savant Syndrome

A condition where an individual with significant mental disabilities demonstrates certain abilities far in excess of average.

Set Of Distinct Abilities

A collection of unique skills or competences that an individual possesses, which vary from person to person.

Cognitive Processing

The intellectual activity involved in learning and grasping concepts through reasoning, experiencing, and the sensory system.

Culturally Constructed

Describes concepts, categories, or norms that are created by cultural agreements and shared within a society.