Question 1

What is XYZ's market share variance?

Accepted Answer

A) $37,296.88 
B) $40,906.25 
C) $35,700.00 
D) $32,550.00 
A) $37,296.88 
B) $40,906.25 
C) $35,700.00 
D) $32,550.00 A

Question 2

What is the sales mix variance for the basic model?

Accepted Answer

A) $256,000 
B) $1,344,000 
C) $1,600,000 
D) $2,520,000 
A) $256,000 
B) $1,344,000 
C) $1,600,000 
D) $2,520,000 B

Question 3

What was the total standard cost of direct materials allowed during May?

Accepted Answer

A) $8,260 
B) $8,400 
C) $9,440 
D) $9,600 
A) $8,260 
B) $8,400 
C) $9,440 
D) $9,600 D

Question 4

What is the sales activity variance for the deluxe model?

Accepted Answer

A) $400,000 
B) $800,000 
C) $1,600,000 
D) $2,400,000 
A) $400,000 
B) $800,000 
C) $1,600,000 
D) $2,400,000

Question 5

Actual and budgeted information about the sales of a product are presented below for June: (CIA adapted) The sales price variance for June was

Accepted Answer

A) $8,000 favorable. 
B) $8,000 unfavorable. 
C) $10,000 unfavorable. 
D) $10,500 unfavorable. 
E) $10,500 favorable. 
A) $8,000 favorable. 
B) $8,000 unfavorable. 
C) $10,000 unfavorable. 
D) $10,500 unfavorable. 
E) $10,500 favorable.

Question 6

What was the standard direct labor rate?

Accepted Answer

A) $3.50 
B) $3.80 
C) $4.00 
D) $5.80 
A) $3.50 
B) $3.80 
C) $4.00 
D) $5.80

Question 7

What is the sales quantity variance for the basic model?

Accepted Answer

A) $120,000 
B) $256,000 
C) $1,344,000 
D) $1,600,000 
A) $120,000 
B) $256,000 
C) $1,344,000 
D) $1,600,000

Question 8

The labor yield variance is actual total hours at

Accepted Answer

A) actual mix times actual labor rates less actual total hours at actual mix times standard labor rates. 
B) actual mix times standard labor rates less standard total hours at standard mix times standard labor rates. 
C) actual mix times standard labor rates less actual total hours at standard mix times standard labor rates. 
D) standard mix times standard labor rates less standard total hours at standard mix times standard labor rates. 
A) actual mix times actual labor rates less actual total hours at actual mix times standard labor rates. 
B) actual mix times standard labor rates less standard total hours at standard mix times standard labor rates. 
C) actual mix times standard labor rates less actual total hours at standard mix times standard labor rates. 
D) standard mix times standard labor rates less standard total hours at standard mix times standard labor rates.

Question 9

What is the sales mix variance for the deluxe model based?

Accepted Answer

A) $1,176,000 
B) $1,344,000 
C) $2,400,000 
D) $2,520,000 
A) $1,176,000 
B) $1,344,000 
C) $2,400,000 
D) $2,520,000

Question 10

Is the materials mix variance favorable or unfavorable?

Accepted Answer

A) favorable. 
B) unfavorable. 
A) favorable. 
B) unfavorable.

Question 11

Using the abbreviations listed below,what is the market share variance? AMS = actual market share
BMS = budgeted market share
BCM = budgeted contribution margin per unit
ACM = actual contribution margin per unit
ATM = actual total market
BTM = budgeted total market

Accepted Answer

A) (ATM - BTM)(BMS)(ACM) 
B) (ATM - BTM)(BMS)(BCM) 
C) (AMS - BMS)(ATM)(ACM) 
D) (AMS - BMS)(ATM)(BCM) 
E) (ATM - BTM)(AMS)(ACM) 
A) (ATM - BTM)(BMS)(ACM) 
B) (ATM - BTM)(BMS)(BCM) 
C) (AMS - BMS)(ATM)(ACM) 
D) (AMS - BMS)(ATM)(BCM) 
E) (ATM - BTM)(AMS)(ACM)

Question 12

Is the materials yield variance favorable or unfavorable?

Accepted Answer

A) favorable. 
B) unfavorable. 
A) favorable. 
B) unfavorable.

Question 13

Is the total direct materials mix variance favorable or unfavorable?

Accepted Answer

A) favorable. 
B) unfavorable. 
A) favorable. 
B) unfavorable.

Question 14

What was the total standard cost of direct materials purchased during May?

Accepted Answer

A) $9,150 
B) $11,800 
C) $12,000 
D) $12,200 
A) $9,150 
B) $11,800 
C) $12,000 
D) $12,200

Question 15

What is the total materials mix variance?

Accepted Answer

A) $476.00 
B) $420.00 
C) $388.50 
D) $280.00 
A) $476.00 
B) $420.00 
C) $388.50 
D) $280.00

Question 16

What was Sample's actual direct labor rate?

Accepted Answer

A) $3.60. 
B) $3.70. 
C) $3.80. 
D) $3.90. 
A) $3.60. 
B) $3.70. 
C) $3.80. 
D) $3.90.

Question 17

The production cost yield variance is conceptually the same as the sales quantity variance.

Accepted Answer

A) True 
 B)False

Question 18

One feature of a standard cost system is that it

Accepted Answer

A) makes the record keeping process more complex and difficult. 
B) never requires updating if standard costs have been carefully determined. 
C) reduces the amount of information available to a manager. 
D) simplifies the record keeping process by allowing amounts to be carried at standard cost rather than actual cost in the accounting records. 
A) makes the record keeping process more complex and difficult. 
B) never requires updating if standard costs have been carefully determined. 
C) reduces the amount of information available to a manager. 
D) simplifies the record keeping process by allowing amounts to be carried at standard cost rather than actual cost in the accounting records.

Question 19

What was Tiger's direct labor yield variance?

Accepted Answer

A) $13,450 
B) $9,675 
C) $9,225 
D) $5,000 
A) $13,450 
B) $9,675 
C) $9,225 
D) $5,000

Question 20

Standard costs should be based on

Accepted Answer

A) perfect performance. 
B) an average of past costs. 
C) most likely level of performance. 
D) reasonably attainable levels of efficiency. 
A) perfect performance. 
B) an average of past costs. 
C) most likely level of performance. 
D) reasonably attainable levels of efficiency.

What is XYZ's market share variance?

What is the sales mix variance for the basic model?

What was the total standard cost of direct materials allowed during May?

What is the sales activity variance for the deluxe model?

Actual and budgeted information about the sales of a product are presented below for June: (CIA adapted) The sales price variance for June was

What was the standard direct labor rate?

What is the sales quantity variance for the basic model?

The labor yield variance is actual total hours at

What is the sales mix variance for the deluxe model based?

Is the materials mix variance favorable or unfavorable?

Using the abbreviations listed below,what is the market share variance? AMS = actual market share BMS = budgeted market share BCM = budgeted contribution margin per unit ACM = actual contribution margin per unit ATM = actual total market BTM = budgeted total market

Is the materials yield variance favorable or unfavorable?

Is the total direct materials mix variance favorable or unfavorable?

What was the total standard cost of direct materials purchased during May?

What is the total materials mix variance?

What was Sample's actual direct labor rate?

The production cost yield variance is conceptually the same as the sales quantity variance.

One feature of a standard cost system is that it

What was Tiger's direct labor yield variance?

Standard costs should be based on

Cost Accounting: Information for Decision Making

Fundamentals of Cost-Volume-Profit Analysis

Fundamentals of Cost Analysis for Decision Making

Cost Estimation

Fundamentals of Product and Service Costing

Job Costing

Process Costing

Activity-Based Costing

Service Department and Joint Cost Allocation

Fundamentals of Management Control Systems

Planning and Budgeting

Business Unit Performance Measurement

Transfer Pricing

Fundamentals of Variance Analysis

Nonfinancial and Multiple Measures of Performance

Filters

Exam 17: Additional Topics in Variance Analysis

What is XYZ's market share variance?

What is the sales mix variance for the basic model?

What was the total standard cost of direct materials allowed during May?

What is the sales activity variance for the deluxe model?

Actual and budgeted information about the sales of a product are presented below for June: (CIA adapted) The sales price variance for June was

What was the standard direct labor rate?

What is the sales quantity variance for the basic model?

The labor yield variance is actual total hours at

What is the sales mix variance for the deluxe model based?

Is the materials mix variance favorable or unfavorable?

Using the abbreviations listed below,what is the market share variance? AMS = actual market share BMS = budgeted market share BCM = budgeted contribution margin per unit ACM = actual contribution margin per unit ATM = actual total market BTM = budgeted total market

Is the materials yield variance favorable or unfavorable?

Is the total direct materials mix variance favorable or unfavorable?

What was the total standard cost of direct materials purchased during May?

What is the total materials mix variance?

What was Sample's actual direct labor rate?

The production cost yield variance is conceptually the same as the sales quantity variance.

One feature of a standard cost system is that it

What was Tiger's direct labor yield variance?

Standard costs should be based on

Cost Accounting: Information for Decision Making

Fundamentals of Cost-Volume-Profit Analysis

Fundamentals of Cost Analysis for Decision Making

Cost Estimation

Fundamentals of Product and Service Costing

Job Costing

Process Costing

Activity-Based Costing

Service Department and Joint Cost Allocation

Fundamentals of Management Control Systems

Planning and Budgeting

Business Unit Performance Measurement

Transfer Pricing

Fundamentals of Variance Analysis

Nonfinancial and Multiple Measures of Performance

Filters