The Upton Company Uses a Standard Costing System in Which

question 17

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 variable overhead efficiency variance is:

• A) $430 U
• B) $740 F
• C) $1,120 F
• D) $950 U

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Definitions:

Macrosociological

Relates to the study of large-scale society, focusing on the social structures and processes that shape the population.

Symbolic Interactionist

A theoretical perspective in sociology that focuses on the importance of symbols and language as core elements of human interaction.

Positivistic

Pertaining to positivism, a philosophical system recognizing only that which can be scientifically verified or which is capable of logical or mathematical proof, and therefore rejecting metaphysics and theism.

Qualitative

This term pertains to research that focuses on understanding concepts, thoughts, or experiences through methods such as interviews, observations, and analysis of text and documents.