The objective of ________ is to select the group of projects that provides the highest overall net present value and does not require more dollars than are budgeted

Under a process costing system, product costs are accumulated with respect to jobs completed

Indicate whether the statement is true or false

The following information relates to Regency Manufacturing's overhead costs for the month

Static budget variable overhead $14,200 Static budget fixed overhead $5,600 Static budget direct labor hours 1,000 hours Static budget number of units 5,000 units Regency allocates manufacturing overhead to production based on standard direct labor hours. Regency reported the following actual results for last month: actual variable overhead, $14,500; actual fixed overhead, $5,400; actual production of 4,700 units at 0.22 direct labor hours per unit. The standard direct labor time is 0.20 direct labor hours per unit. Compute the variable overhead cost variance. (Round the answer to the nearest dollar.) What will be an ideal response