Exam 14: Operational Performance Measurement: Sales, Direct-Cost Variances, and the Role of Nonfinancial Performance Measures

The direct labor efficiency variance for July was:

An organization's overall management accounting and control system:

For operational control, a management accounting system should include:

The actual purchase price per pound of PPS used is:

Which of the following is not considered a basic business process?

The sales volume variance, measured in terms of direct labor cost, for July was:

Prokp's total standard direct labor hours for units produced in April were:

The total standard direct labor hours (SQ) in November for the output produced are:

The total direct labor variance for October was:

The amount D is:

The total operating-income variance is:

The direct labor rate variance for July is:

A standard that sets the performance criterion at a level that workers with proper training and experience can attain most of the time without extraordinary effort is a(n):

Contemporary furniture manufactures office desks. The firm budgeted to sell 5,000 desks at $200 per desk in 2013. Budgeted costs include $80 variable cost per desk, and $200,000 fixed cost/year. In 2010 the company sold 6,000 desks at $190, and incurred $78 variable cost per desk and $220,000 fixed cost for the year. Required: Prepare, in proper form, a variance analysis report identifying both flexible budget and sales-volume variances. Label all component variances as (F) (favorable) or (U) (unfavorable).

The term "processing cycle efficiency" (PCE):

The Chen Company uses a standard cost system. As such, all of its inventories are carried on the books at standard, not actual, cost. During the most recent accounting period, the company had the following summary transactions: 1. Purchased, on credit, direct materials; the standard cost of these materials was $30,000, while the actual cost was $32,000. 2. Issued to production direct materials. The standard cost of materials that should have been used for this period's output was $35,000, while the standard cost of materials actually used in production during the period was $33,000. 3. Actual direct labor cost, which has been incurred but not yet paid, for the period was $75,000. The standard direct labor cost for this period's output was $80,000. The direct labor efficiency variance for the period was $10,000(F). 4. For the units completed during the period, the standard direct labor cost was $78,000, while the standard direct materials cost was $34,000. 5. For the units sold during the period, the standard materials cost was $30,000, while the standard direct labor cost was $76,000 Required: Given the above information, provide the correct journal entries for the following: 1. Purchase of direct materials 2. Issuance of materials to production. 3. Direct labor cost for the period. 4. The labor and materials cost associated with finished production this period. 5. The labor and materials cost associated with items sold during the period.

The amount C is:

What was the average direct labor hourly rate the Division paid in August?