Exam 10: Standard Costing,Operational Performance Measures,and the Balanced Scorecard

When using a balanced scorecard,which of the following is typically classified as an internal-operations performance measure?

Which of the following individuals is least likely to become involved in the setting of either direct material standards or direct labor standards?

The following information for a recent project was taken from the records of Garvin Company: A.How long did it take to complete the project once production commenced? B.Compute the manufacturing cycle efficiency. B.Processing time (15.0)/ [Processing time (15.0)+ inspection time (0.5)+ waiting time in production (3.0)+ move time (1.5)] = 0.75 C.1.75% (cycle efficiency) 2.25% (100% - 75%) C.As judged by the cycle efficiency,what percentage of the overall production time was spent on (1)value-adding activities and (2)non-value adding activities?

Justin Company recently purchased materials from a new supplier at a very attractive price.The materials were found to be of poor quality,and the company's laborers struggled significantly as they shaped the materials into finished product.In a desperation move to make up for some of the time lost,the manufacturing supervisor brought in more-senior employees from another part of the plant.Which of the following variances would have a high probability of arising from this situation?

Upstart,Inc.manufactures a product that has the following standard costs:

The manufacturing cycle efficiency for PQR Company when the processing time is six hours and inspection,waiting,and move time are one hour each is:

Newbill Enterprises recently used 24,000 labor hours to produce 8,600 completed units.According to manufacturing specifications,each unit is anticipated to take 2.75 hours to complete.The company's actual payroll cost amounted to $456,000.If the standard labor cost per hour is $19.20,Newhart's labor rate variance is:

The standard hours allowed for the work performed are:

A statistical control chart is best used for determining:

An unfavorable labor efficiency variance is created when:

A direct-labor efficiency variance cannot be caused by:

The direct-labor efficiency variance is:

When considering whether to investigate a variance,managers should consider all of the following except the variance's:

On the basis of this information,determine Alexis's labor rate variance and labor efficiency variance.

The typical balanced scorecard is best described as containing:

Which of the following variances are most similar with respect to the manner in which they are calculated?

Which of the following variances cannot occur together during the same accounting period?

Sammons Corporation had a favorable direct-labor efficiency variance of $6,000 for the period just ended.The actual wage rate was $0.50 more than the standard rate of $12.00.If the company's standard hours allowed for actual production totaled 9,500,how many hours did the firm actually work?

Cohlsen Corporation has a favorable materials quantity variance.Which department would likely be asked to explain the cause of this variance?

Taylor's direct-material quantity variance was: