The Hoops Corporation manufactures and sells hula hoops. The following data is related to sales and production of the hula hoops for last year. Selling price per unit Variable manufacturing costs per unit Variable selling and administrative expenses per unit Fixed manufacturing overhead (in total) Fixed selling and administrative expenses (in total) Units produced during the year Units sold during year Using variable costing, what is the operating income for last year? A. $312,000 B. $1,260,000 C. $469,000 D. $155,000 $8.40 $1.87 $4.45 $76,000 $81,000 530,000 150,000

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Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.