Wriphoff Company Uses a Standard Cost System to Collect Costs

question 38

Multiple Choice

Wriphoff Company uses a standard cost system to collect costs related to the production of its clay bud vases. Manufacturing overhead at Wriphoff is applied to production on the basis of standard direct labor-hours. The overhead standards used at Wriphoff are as follows: The standards above were based on an expected annual volume of 40,000 bud vases or 36,000 direct labor-hours. The actual results for last year were as follows:
-What was Wriphoff's fixed manufacturing overhead budget variance for last year?

• A) $7,600 favorable
• B) $9,200 unfavorable
• C) $30,416 unfavorable
• D) $38,016 unfavorable

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Definitions:

Fictional Finalism

A concept introduced by Alfred Adler, suggesting that individuals are more influenced by their expectations of the future than by past experiences.

Historical Circumstances

The situational contexts and conditions that existed in the past and influenced events, decisions, or outcomes.

Present Expectations

The anticipations or outlooks individuals have regarding their current situations or conditions.

Psychodynamic Perspective

An approach in psychology that emphasizes the role of unconscious processes and childhood experiences in shaping personality and behavior.