Question 1

The labor efficiency variance for July is:

Accepted Answer

A) $2,090 F 
B) $2,166 U 
C) $2,090 U 
D) $2,166 F 
A) $2,090 F 
B) $2,166 U 
C) $2,090 U 
D) $2,166 F

Question 2

The occupancy expenses in the flexible budget for September would be closest to:

Accepted Answer

A) $13,215 
B) $12,808 
C) $13,583 
D) $12,880 
A) $13,215 
B) $12,808 
C) $13,583 
D) $12,880

Question 3

The labor efficiency variance for May is:

Accepted Answer

A) $3,978 F 
B) $4,320 F 
C) $4,320 U 
D) $3,978 U 
A) $3,978 F 
B) $4,320 F 
C) $4,320 U 
D) $3,978 U

Question 4

The total standard cost per unit is closest to:

Accepted Answer

A) $55.03 per unit 
B) $43.45 per unit 
C) $56.52 per unit 
D) $44.97 per unit 
A) $55.03 per unit 
B) $43.45 per unit 
C) $56.52 per unit 
D) $44.97 per unit

Question 5

The labor efficiency variance for July is:

Accepted Answer

A) $450 U 
B) $423 F 
C) $423 U 
D) $450 F 
A) $450 U 
B) $423 F 
C) $423 U 
D) $450 F

Question 6

The total fixed cost at the activity level of 5,500 guest-days per month should be:

Accepted Answer

A) $139,700 
B) $190,920 
C) $244,200 
D) $109,220 
A) $139,700 
B) $190,920 
C) $244,200 
D) $109,220

Question 7

Warp Manufacturing Corporation uses a standard cost system for the production of its ski lift chairs.Warp uses machine-hours as an overhead base.The variable manufacturing overhead standards for each chair are 1.2 machine-hours at a standard cost of $18 per hour. During the month of September, Warp incurred 34,000 machine-hours in the production of 32,000 ski lift chairs.The total variable manufacturing overhead cost was $649,400.What is Warp's variable overhead rate variance for September?

Accepted Answer

A) $37,400 Unfavorable 
B) $41,800 Favorable 
C) $79,200 Favorable 
D) $84,040 Favorable 
A) $37,400 Unfavorable 
B) $41,800 Favorable 
C) $79,200 Favorable 
D) $84,040 Favorable

Question 8

The amount shown for revenue in the planning budget for March would have been closest to:

Accepted Answer

A) $126,000 
B) $140,400 
C) $142,435 
D) $124,200 
A) $126,000 
B) $140,400 
C) $142,435 
D) $124,200

Question 9

Pittman Framing's cost formula for its supplies cost is $1,150 per month plus $11 per frame.For the month of November, the company planned for activity of 789 frames, but the actual level of activity was 792 frames.The actual supplies cost for the month was $9,480.The spending variance for supplies cost in November would be closest to:

Accepted Answer

A) $349 F 
B) $382 U 
C) $382 F 
D) $349 U 
A) $349 F 
B) $382 U 
C) $382 F 
D) $349 U

Question 10

The following standards for variable manufacturing overhead have been established for a company that makes only one product:   The following data pertain to operations for the last month:   What is the variable overhead efficiency variance for the month?

Accepted Answer

A) $15,550 U 
B) $15,200 U 
C) $16,530 U 
D) $980 F 
A) $15,550 U 
B) $15,200 U 
C) $16,530 U 
D) $980 F

Question 11

The spending variance for laundry costs for the month is:

Accepted Answer

A) $5,080 F 
B) $5,080 U 
C) $5,800 U 
D) $5,800 F 
A) $5,080 F 
B) $5,080 U 
C) $5,800 U 
D) $5,800 F

Question 12

The materials price variance for July is:

Accepted Answer

A) $2,100 U 
B) $2,420 F 
C) $2,100 F 
D) $2,420 U 
A) $2,100 U 
B) $2,420 F 
C) $2,100 F 
D) $2,420 U

Question 13

When more hours of labor time are necessary to complete a job than the standard allows, the labor efficiency variance is unfavorable.

Accepted Answer

A) True 
 B)False

Question 14

The total variable cost at the activity level of 9,300 patient-visits per month should be:

Accepted Answer

A) $114,390 
B) $149,730 
C) $102,090 
D) $133,630 
A) $114,390 
B) $149,730 
C) $102,090 
D) $133,630

Question 15

What is ChocO's variable overhead efficiency variance?

Accepted Answer

A) $7,260 Unfavorable 
B) $10,560 Favorable 
C) $31,240 Unfavorable 
D) $39,050 Unfavorable 
A) $7,260 Unfavorable 
B) $10,560 Favorable 
C) $31,240 Unfavorable 
D) $39,050 Unfavorable

Question 16

The materials quantity variance for September is:

Accepted Answer

A) $2,170 U 
B) $2,232 U 
C) $2,170 F 
D) $2,232 F 
A) $2,170 U 
B) $2,232 U 
C) $2,170 F 
D) $2,232 F

Question 17

The spending variance for "Employee salaries and wages" for March would have been closest to:

Accepted Answer

A) $3,300 U 
B) $3,300 F 
C) $300 U 
D) $300 F 
A) $3,300 U 
B) $3,300 F 
C) $300 U 
D) $300 F

Question 18

If variable manufacturing overhead is applied based on direct labor-hours, it is impossible to have a favorable labor rate variance and unfavorable variable overhead rate variance for the same period.

Accepted Answer

A) True 
 B)False

Question 19

The labor efficiency variance for March is:

Accepted Answer

A) $3,040 U 
B) $3,685 U 
C) $3,685 F 
D) $3,040 F 
A) $3,040 U 
B) $3,685 U 
C) $3,685 F 
D) $3,040 F

Question 20

Krizun Industries makes heavy construction equipment.The standard for a particular crane calls for 20 direct labor-hours at $24 per direct labor-hour.During a recent period 875 cranes were made.The labor efficiency variance was $1,200 Unfavorable.How many actual direct labor-hours were worked?

Accepted Answer

A) 17,600 direct labor-hours 
B) 17,450 direct labor-hours 
C) 17,500 direct labor-hours 
D) 17,550 direct labor-hours 
A) 17,600 direct labor-hours 
B) 17,450 direct labor-hours 
C) 17,500 direct labor-hours 
D) 17,550 direct labor-hours

The labor efficiency variance for July is:

The occupancy expenses in the flexible budget for September would be closest to:

The labor efficiency variance for May is:

The total standard cost per unit is closest to:

The labor efficiency variance for July is:

The total fixed cost at the activity level of 5,500 guest-days per month should be:

The amount shown for revenue in the planning budget for March would have been closest to:

The following standards for variable manufacturing overhead have been established for a company that makes only one product: The following data pertain to operations for the last month: What is the variable overhead efficiency variance for the month?

The spending variance for laundry costs for the month is:

The materials price variance for July is:

When more hours of labor time are necessary to complete a job than the standard allows, the labor efficiency variance is unfavorable.

The total variable cost at the activity level of 9,300 patient-visits per month should be:

What is ChocO's variable overhead efficiency variance?

The materials quantity variance for September is:

The spending variance for "Employee salaries and wages" for March would have been closest to:

If variable manufacturing overhead is applied based on direct labor-hours, it is impossible to have a favorable labor rate variance and unfavorable variable overhead rate variance for the same period.

The labor efficiency variance for March is:

Krizun Industries makes heavy construction equipment.The standard for a particular crane calls for 20 direct labor-hours at $24 per direct labor-hour.During a recent period 875 cranes were made.The labor efficiency variance was $1,200 Unfavorable.How many actual direct labor-hours were worked?

Managerial Accounting and Cost Concepts

Job-Order Costing: Calculating Unit Product Costs

Job-Order Costing: Cost Flows and External Reporting

Activity-Based Costing

Process Costing6 Cost-Volume-Profit Relationships

Cost-Volume-Profit Relationships

Variable Costing and Segment Reporting: Tools for Management

Master Budgeting

Performance Measurement in Decentralized Organizations

Differential Analysis: The Key to Decision Making

Capital Budgeting Decisions

Statement of Cash Flows

Financial Statement Analysis

Job-Order Costing: Cost Flows and External Reporting

Process Costing6 Cost-Volume-Profit Relationships

Cost-Volume-Profit Relationships

Flexible Budgets, Standard Costs, and Variance Analysis

Flexible Budgets, Standard Costs, and Variance Analysis

A Capital Budgeting Decisions

A Statement of Cash Flows

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Exam 9: Flexible Budgets Standard Costs and Variance Analysis

The labor efficiency variance for July is:

The occupancy expenses in the flexible budget for September would be closest to:

The labor efficiency variance for May is:

The total standard cost per unit is closest to:

The labor efficiency variance for July is:

The total fixed cost at the activity level of 5,500 guest-days per month should be:

The amount shown for revenue in the planning budget for March would have been closest to:

The following standards for variable manufacturing overhead have been established for a company that makes only one product: The following data pertain to operations for the last month: What is the variable overhead efficiency variance for the month?

The spending variance for laundry costs for the month is:

The materials price variance for July is:

When more hours of labor time are necessary to complete a job than the standard allows, the labor efficiency variance is unfavorable.

The total variable cost at the activity level of 9,300 patient-visits per month should be:

What is ChocO's variable overhead efficiency variance?

The materials quantity variance for September is:

The spending variance for "Employee salaries and wages" for March would have been closest to:

If variable manufacturing overhead is applied based on direct labor-hours, it is impossible to have a favorable labor rate variance and unfavorable variable overhead rate variance for the same period.

The labor efficiency variance for March is:

Krizun Industries makes heavy construction equipment.The standard for a particular crane calls for 20 direct labor-hours at $24 per direct labor-hour.During a recent period 875 cranes were made.The labor efficiency variance was $1,200 Unfavorable.How many actual direct labor-hours were worked?

Managerial Accounting and Cost Concepts

Job-Order Costing: Calculating Unit Product Costs

Job-Order Costing: Cost Flows and External Reporting

Activity-Based Costing

Process Costing6 Cost-Volume-Profit Relationships

Cost-Volume-Profit Relationships

Variable Costing and Segment Reporting: Tools for Management

Master Budgeting

Performance Measurement in Decentralized Organizations

Differential Analysis: The Key to Decision Making

Capital Budgeting Decisions

Statement of Cash Flows

Financial Statement Analysis

Job-Order Costing: Cost Flows and External Reporting

Process Costing6 Cost-Volume-Profit Relationships

Cost-Volume-Profit Relationships

Flexible Budgets, Standard Costs, and Variance Analysis

Flexible Budgets, Standard Costs, and Variance Analysis

A Capital Budgeting Decisions

A Statement of Cash Flows

Filters