Question 1

The standard price (SP) in the variable-MOH price variance is computed by total

Accepted Answer

A)  actual variable-MOH divided by the actual use of the cost driver. 
B)  actual variable-MOH divided by the budgeted use of the cost driver. 
C)  budgeted variable-MOH divided by the budgeted use of the cost driver. 
D)  budgeted variable-MOH divided by the actual use of the cost driver. 
A)  actual variable-MOH divided by the actual use of the cost driver. 
B)  actual variable-MOH divided by the budgeted use of the cost driver. 
C)  budgeted variable-MOH divided by the budgeted use of the cost driver. 
D)  budgeted variable-MOH divided by the actual use of the cost driver.

Question 2

A company's sales quantity variance is further broken into the

Accepted Answer

A)  market size variance and sales price variance. 
B)  market size variance and market share variance. 
C)  sales price variance and market share variance. 
D)  sales price variance and sales mix variance. 
A)  market size variance and sales price variance. 
B)  market size variance and market share variance. 
C)  sales price variance and market share variance. 
D)  sales price variance and sales mix variance.

Question 3

Century Company has the following information for the past month:
  Century's Comprehensive Sales Activity Variance is

Accepted Answer

A)  $2,000 favorable. 
B)  $2,000 unfavorable. 
C)  $1,000 favorable. 
D)  $1,000 unfavorable. 
A)  $2,000 favorable. 
B)  $2,000 unfavorable. 
C)  $1,000 favorable. 
D)  $1,000 unfavorable.

Question 4

When computing variances related to a flexible budget, a favorable (F) variance causes a(n)

Accepted Answer

A)  decrease in operating income compared to the master budget. 
B)  increase in operating income compared to the master budget. 
C)  decrease in sales revenue compared to the master budget. 
D) increase in sales revenue compared to the master budget. 
A)  decrease in operating income compared to the master budget. 
B)  increase in operating income compared to the master budget. 
C)  decrease in sales revenue compared to the master budget. 
D) increase in sales revenue compared to the master budget.

Question 5

Venda Company purchased and used 40,000 pound of materials in production. It paid $6.00 per pound for these materials. If the direct materials (DM) price variance was $50,000 favorable, what was the standard price per pound?

Accepted Answer

A)  $4.25 
B)  $5.75 
C)  $7.25 
D)  $9.30 
A)  $4.25 
B)  $5.75 
C)  $7.25 
D)  $9.30

Question 6

How does a company track its progress toward reaching its goals as created in a budget?

Accepted Answer

A)  Sensitivity analysis 
B)  Variance analysis 
C)  Regression analysis 
D)  Breakeven analysis 
A)  Sensitivity analysis 
B)  Variance analysis 
C)  Regression analysis 
D)  Breakeven analysis

Question 7

Dairy Delites had the following projected and incurred the following production and cost data shown below:
  What is the Variable-MOH Efficiency Variance?

Accepted Answer

A)  $161 unfavorable 
B)  $161 favorable 
C)  $373 unfavorable 
D)  $373 favorable 
A)  $161 unfavorable 
B)  $161 favorable 
C)  $373 unfavorable 
D)  $373 favorable

Question 8

Aztec Company has actual sales of $53,000, flexible budget sales of $52,800, and master 
budget sales of $51,000. Compute the Sales Price Variance and Sales Activity Variance (simplified) for Aztec Company.

Accepted Answer

Sales Price Variance = Actual Sales - Fl

Question 9

Zapple Manufacturing has the following information on its standard cost card for one of its 
current products based on expected activity of 17,000 hours:
   In the past year, the following actual results were recorded:
   Compute the following variances for Zapple Manufacturing for the past year:
a. DM price and efficiency variances.
b. DL price and efficiency variances.
c. Variable-MOH price and efficiency variances.
d. Fixed-MOH price and volume variances

Accepted Answer

a. DM Price Variance = (AQ x AP) - (AQ x

The standard price (SP) in the variable-MOH price variance is computed by total

A company's sales quantity variance is further broken into the

Century Company has the following information for the past month: Century's Comprehensive Sales Activity Variance is

When computing variances related to a flexible budget, a favorable (F) variance causes a(n)

Venda Company purchased and used 40,000 pound of materials in production. It paid $6.00 per pound for these materials. If the direct materials (DM) price variance was $50,000 favorable, what was the standard price per pound?

How does a company track its progress toward reaching its goals as created in a budget?

Dairy Delites had the following projected and incurred the following production and cost data shown below: What is the Variable-MOH Efficiency Variance?

Aztec Company has actual sales of $53,000, flexible budget sales of $52,800, and master budget sales of $51,000. Compute the Sales Price Variance and Sales Activity Variance (simplified) for Aztec Company.

Cost Accounting Has Purpose

Refresher on Cost Terms Road Map

Cost Behavior and Estimation

Cost-Volume-Profit Analysis

Cost Accounting Has Purpose

Mastering the Master Budget

Capital Budgeting Choices and Decisions

Job Costing

Activity- Based Costing

Process Costing

Absorption Versus Variable Costing

Data Analytics

Support Department Costing

Joint Costs and Decision-Making

The Art and Science of Pricing to Optimize Revenue

Management Control Systems and Transfer Pricing

Business Strategy, Performance Measurement, and the Balanced Scorecard

Filters

Exam 10: Variance Analysis and Standard Costing

The standard price (SP) in the variable-MOH price variance is computed by total

A company's sales quantity variance is further broken into the

Century Company has the following information for the past month: Century's Comprehensive Sales Activity Variance is

When computing variances related to a flexible budget, a favorable (F) variance causes a(n)

Venda Company purchased and used 40,000 pound of materials in production. It paid $6.00 per pound for these materials. If the direct materials (DM) price variance was $50,000 favorable, what was the standard price per pound?

How does a company track its progress toward reaching its goals as created in a budget?

Dairy Delites had the following projected and incurred the following production and cost data shown below: What is the Variable-MOH Efficiency Variance?

Aztec Company has actual sales of $53,000, flexible budget sales of $52,800, and master budget sales of $51,000. Compute the Sales Price Variance and Sales Activity Variance (simplified) for Aztec Company.

Cost Accounting Has Purpose

Refresher on Cost Terms Road Map

Cost Behavior and Estimation

Cost-Volume-Profit Analysis

Cost Accounting Has Purpose

Mastering the Master Budget

Capital Budgeting Choices and Decisions

Job Costing

Activity- Based Costing

Process Costing

Absorption Versus Variable Costing

Data Analytics

Support Department Costing

Joint Costs and Decision-Making

The Art and Science of Pricing to Optimize Revenue

Management Control Systems and Transfer Pricing

Business Strategy, Performance Measurement, and the Balanced Scorecard

Filters