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The following information is given for one of a company's variable expenses: • The activity variance is $850 favorable. • The actual amount of the expense is $8,300. • The planned level of activity in the master budget is 1,000 hours. • The actual level of activity is 900 hours. The budget rate per hour for this expense must be:

The following information is given for one of a company's variable expenses: • The activity variance is $850 favorable. • The actual amount of the expense is $8,300. • The planned level of activity in the master budget is 1,000 hours. • The actual level of activity is 900 hours. The budget rate per hour for this expense must be:

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following information is given for one of a company's variable expenses: - The activity variance is $850 favorable. - The actual amount of the expense is $8,300. - The planned level of activity in the master budget is 1,000 hours. - The actual level of activity is 900 hours. The budget rate per hour for this expense must be: Multiple Choice: - \( \$7.80 \) per hour. - \( \$9.50 \) per hour. - \( \$8.50 \) per hour. - \( \$8.80 \) per hour. There are no graphs or diagrams associated with this text.
Transcribed Image Text:The following information is given for one of a company's variable expenses: - The activity variance is $850 favorable. - The actual amount of the expense is $8,300. - The planned level of activity in the master budget is 1,000 hours. - The actual level of activity is 900 hours. The budget rate per hour for this expense must be: Multiple Choice: - \( \$7.80 \) per hour. - \( \$9.50 \) per hour. - \( \$8.50 \) per hour. - \( \$8.80 \) per hour. There are no graphs or diagrams associated with this text.
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