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Author Question: A company is using a standard cost system and receives its electricity bill. Electricity is ... (Read 244 times)

torybrooks

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Question 1

A $5,000 unfavorable flexible-budget variance indicates that ________.
◦ the flexible-budget amount exceeded actual variable manufacturing overhead by $5,000
◦ the actual variable manufacturing overhead exceeded the flexible-budget amount by $5,000
◦ the flexible-budget amount exceeded standard variable manufacturing overhead by $5,000
◦ the standard variable manufacturing overhead exceeded the flexible-budget amount by $5,000

Question 2

A company is using  a standard cost system and receives its electricity bill.  Electricity is considered a variable cost of operations for this company.  The bill is for $15,000 and will be paid next month.  Which of the following entries would be the correct recording of the electricity bill?
Work-in-Process Control$15,000
Variable Overhead Allocated$15,000

Variable Overhead Control$15,000
Accounts payable$15,000

Work-in-Process Control$15,000
Accounts Payable$15,000

Variable Overhead Control$15,000
Variable Overhead Allocated$15,000


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Marked as best answer by torybrooks on Mar 6, 2021

Jayson

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torybrooks

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Reply 2 on: Mar 6, 2021
:D TYSM


Laurenleakan

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Reply 3 on: Yesterday
Wow, this really help

 

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