Question 1

The predetermined fixed manufacturing overhead rate is closest to:

Accepted Answer

A) $10.15 per MH 
B) $9.56 per MH 
C) $9.65 per MH 
D) $10.06 per MH 
A) $10.15 per MH 
B) $9.56 per MH 
C) $9.65 per MH 
D) $10.06 per MH

Question 2

Bartoletti Fabrication Corporation has a standard cost system in which it applies manufacturing overhead to products on the basis of standard machine-hours (MHs)at $4.60 per MH.The company had budgeted its fixed manufacturing overhead cost at $65,000 for the month.During the month, the actual total variable manufacturing overhead was $22,080 and the actual total fixed manufacturing overhead was $63,000.The actual level of activity for the period was 4,600 MHs.What was the total of the variable overhead rate and fixed manufacturing overhead budget variances for the month?

Accepted Answer

A) $1,080 Unfavorable 
B) $1,080 Favorable 
C) $920 Unfavorable 
D) $920 Favorable 
A) $1,080 Unfavorable 
B) $1,080 Favorable 
C) $920 Unfavorable 
D) $920 Favorable

Question 3

The budget variance for February is:

Accepted Answer

A) $6,460 F 
B) $6,920 U 
C) $6,460 U 
D) $6,920 F 
A) $6,460 F 
B) $6,920 U 
C) $6,460 U 
D) $6,920 F

Question 4

Dellarocco Incorporated makes a single product--a cooling coil used in commercial refrigerators.The company has a standard cost system in which it applies overhead to this product based on the standard labor-hours allowed for the actual output of the period.Data concerning the most recent year appear below:   The fixed overhead budget variance is:

Accepted Answer

A) $37,328 U 
B) $37,328 F 
C) $17,000 F 
D) $17,000 U 
A) $37,328 U 
B) $37,328 F 
C) $17,000 F 
D) $17,000 U

Question 5

Holl Corporation has provided the following data for November.   Required:
a.Compute the budget variance for November.Show your work!
b.Compute the volume variance for November.Show your work!

Accepted Answer

a.Budget variance = Actual fixed manufac

Question 6

The total manufacturing overhead is underapplied or overapplied by how much?

Accepted Answer

A) $32,123 Underapplied 
B) $27,454 Overapplied 
C) $27,454 Underapplied 
D) $32,123 Overapplied 
A) $32,123 Underapplied 
B) $27,454 Overapplied 
C) $27,454 Underapplied 
D) $32,123 Overapplied

Question 7

If the denominator level of activity is 6,200 machine-hours, the predetermined overhead rate would be:

Accepted Answer

A) $520.00 per machine-hour 
B) $5.20 per machine-hour 
C) $44.24 per machine-hour 
D) $39.04 per machine-hour 
A) $520.00 per machine-hour 
B) $5.20 per machine-hour 
C) $44.24 per machine-hour 
D) $39.04 per machine-hour

Question 8

The budget variance for fixed manufacturing overhead is the difference between actual fixed manufacturing overhead costs incurred and the amount of fixed manufacturing overhead applied to work in process.

Accepted Answer

A) True 
 B)False

Question 9

The fixed manufacturing overhead volume variance is:

Accepted Answer

A) $3,000 U 
B) $3,000 F 
C) $9,000 U 
D) $6,000 U 
A) $3,000 U 
B) $3,000 F 
C) $9,000 U 
D) $6,000 U

Question 10

The variable overhead efficiency variance is:

Accepted Answer

A) $4,462 F 
B) $5,428 U 
C) $4,462 U 
D) $5,428 F 
A) $4,462 F 
B) $5,428 U 
C) $4,462 U 
D) $5,428 F

Question 11

The predetermined overhead rate per MH is closest to:

Accepted Answer

A) $20.93 per MH 
B) $19.86 per MH 
C) $19.50 per MH 
D) $20.55 per MH 
A) $20.93 per MH 
B) $19.86 per MH 
C) $19.50 per MH 
D) $20.55 per MH

Question 12

Mclellan Corporation applies manufacturing overhead to products on the basis of standard machine-hours.Budgeted and actual overhead costs for the month appear below:   The company based its original budget on 6,100 machine-hours.The company actually worked 6,480 machine-hours during the month.The standard hours allowed for the actual output of the month totaled 6,370 machine-hours.What was the overall fixed manufacturing overhead budget variance for the month?

Accepted Answer

A) $500 Favorable 
B) $500 Unfavorable 
C) $1,570 Favorable 
D) $1,570 Unfavorable 
A) $500 Favorable 
B) $500 Unfavorable 
C) $1,570 Favorable 
D) $1,570 Unfavorable

Question 13

Plantier Incorporated makes a single product--a cooling coil used in commercial refrigerators.The company has a standard cost system in which it applies overhead to this product based on the standard machine-hours allowed for the actual output of the period.The budgeted fixed manufacturing overhead for the year was $136,950 and the budgeted hours were 27,500 machine-hours.Data concerning the actual results for the most recent year appear below:   Required:
a.Determine the fixed overhead budget variance for the year.
b.Determine the fixed overhead volume variance for the year.

Accepted Answer

a.Budget variance = Actual fixed overhea

Question 14

The predetermined overhead rate is closest to:

Accepted Answer

A) $9.39 per labor-hour 
B) $9.22 per labor-hour 
C) $13.15 per labor-hour 
D) $12.91 per labor-hour 
A) $9.39 per labor-hour 
B) $9.22 per labor-hour 
C) $13.15 per labor-hour 
D) $12.91 per labor-hour

Question 15

The total amount of manufacturing overhead applied is closest to:

Accepted Answer

A) $91,900 
B) $69,368 
C) $97,489 
D) $65,366 
A) $91,900 
B) $69,368 
C) $97,489 
D) $65,366

Question 16

The variable component of the predetermined overhead rate is closest to:

Accepted Answer

A) $1.93 per labor-hour 
B) $1.80 per labor-hour 
C) $1.78 per labor-hour 
D) $1.26 per labor-hour 
A) $1.93 per labor-hour 
B) $1.80 per labor-hour 
C) $1.78 per labor-hour 
D) $1.26 per labor-hour

Question 17

The variable component of the predetermined overhead rate is closest to:

Accepted Answer

A) $0.44 per machine-hour 
B) $1.29 per machine-hour 
C) $0.33 per machine-hour 
D) $0.76 per machine-hour 
A) $0.44 per machine-hour 
B) $1.29 per machine-hour 
C) $0.33 per machine-hour 
D) $0.76 per machine-hour

The predetermined fixed manufacturing overhead rate is closest to:

The budget variance for February is:

Holl Corporation has provided the following data for November. Required: a.Compute the budget variance for November.Show your work! b.Compute the volume variance for November.Show your work!

The total manufacturing overhead is underapplied or overapplied by how much?

If the denominator level of activity is 6,200 machine-hours, the predetermined overhead rate would be:

The budget variance for fixed manufacturing overhead is the difference between actual fixed manufacturing overhead costs incurred and the amount of fixed manufacturing overhead applied to work in process.

The fixed manufacturing overhead volume variance is:

The variable overhead efficiency variance is:

The predetermined overhead rate per MH is closest to:

The predetermined overhead rate is closest to:

The total amount of manufacturing overhead applied is closest to:

The variable component of the predetermined overhead rate is closest to:

The variable component of the predetermined overhead rate is closest to:

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

Flexible Budgets Standard Costs and Variance Analysis

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

A Capital Budgeting Decisions

A Statement of Cash Flows

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Exam 18:Flexible Budgets, Standard Costs, and Variance Analysis

The predetermined fixed manufacturing overhead rate is closest to:

The budget variance for February is:

Holl Corporation has provided the following data for November. Required: a.Compute the budget variance for November.Show your work! b.Compute the volume variance for November.Show your work!

The total manufacturing overhead is underapplied or overapplied by how much?

If the denominator level of activity is 6,200 machine-hours, the predetermined overhead rate would be:

The budget variance for fixed manufacturing overhead is the difference between actual fixed manufacturing overhead costs incurred and the amount of fixed manufacturing overhead applied to work in process.

The fixed manufacturing overhead volume variance is:

The variable overhead efficiency variance is:

The predetermined overhead rate per MH is closest to:

The predetermined overhead rate is closest to:

The total amount of manufacturing overhead applied is closest to:

The variable component of the predetermined overhead rate is closest to:

The variable component of the predetermined overhead rate is closest to:

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

Flexible Budgets Standard Costs and Variance Analysis

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

A Capital Budgeting Decisions

A Statement of Cash Flows

Filters