ACCOUNTING
Multiple Choice
Alvarado Company made the following journal entry, therefore:
Variable Manufacturing Overhead Allocated $100,000
Variable Manufacturing Overhead Efficiency Variance 30,000
Variable Manufacturing Overhead Control $125,000
Variable Manufacturing Overhead Spending Variance 5,000
a. Alvarado overallocated variable manufacturing overhead.
b. a $5,000 favorable spending variance was recorded.
c. Work-in-Process is currently overstated.
d. this entry may be recorded yearly to provide timely feedback to managers.
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