The Tate Company Uses a Standard Costing System in Which

question 42

Multiple Choice

The Tate Company uses a standard costing system in which manufacturing overhead is applied on the basis of standard direct labor-hours (DLHs) . The company recorded the following costs and activity for September:
-The amount of fixed manufacturing overhead cost contained in the company's flexible budget for manufacturing overhead for September was:

• A) $61,400
• B) $57,000
• C) $60,000
• D) $58,550

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Definitions:

Range

The difference between the highest and lowest values in a set of data, indicating the spread or dispersion.

Standard Deviation

An indicator of the extent of variability or spread in a dataset, showing the degree to which the values deviate from the average.

Median

The middle value of a data set when it is arranged in ascending or descending order.

10th Percentile

A value below which 10% of the data fall, often used in statistics to show lower extremes of a distribution.