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Question 1: MNO's actual and budgeted fixed overhead amounts for the last year were $290,000 and $240,000. Standard hours allowed for the output achieved was 65,000 hours. 60,000 hours had been budgeted for the year. MNO's fixed overhead volume variance was:
a) $20,000 favourable
b) $20,000 unfavourable
c) nill.
d) $10,000 unfavourable
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Siogo Shoes, a shoe wholesaler, began February with 120 pairs of shoes inventory that cost $80 each, During February, the company completed the following
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Identify which cost assignment method would most likely be used to assign the costs of each activity to the tanning area: direct tracing, driver tracing, or allocation.
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Make a direct materials budget for Gilden, by month and in total, for the third quarter. Also make a schedule of expected cash disbursements for Gilden
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