Exam 9: Standard Costing: a Functional-Based Control Approach

Mover Company has developed the following standards for one of its products: The company records materials price variances at the time of purchase. The variable standard cost per unit is

Barker Production Company has developed the following standards for one of its products. The company records materials price variances at the time of purchase.The following activity occurred during the month of April: Required: a.Calculate the direct materials price variance. b.Calculate the direct materials usage variance. c.Calculate the direct labor rate variance. d.Calculate the direct labor efficiency variance. e.Calculate the variable overhead spending variance. f.Calculate the variable overhead efficiency variance.

The _______________ is the standard plus the allowable deviation.

The following standard costs were developed for one of the John Miller Company's products: STANDARD COST CARD PER UNIT The following information is available regarding the company's operations for the period: Budgeted fixed manufacturing overhead for the period is $2,400,000, and expected capacity for the period is 40,000 direct labor hours. Required:

Using more highly skilled direct laborers might affect which of the following variances?

An unfavorable variable overhead spending variance may be caused by

The formula for the fixed overhead spending variance is:

Hansenko Company manufactures 100-pound bags of fertilizer that have the following unit standard costs for direct materials and direct labor: The following activities were recorded for October: There were no beginning or ending work-in-process inventories. Required:

Figure 9-4 Regis Corporation uses two materials in the production of its product.The materials, X and Y, have the following standards: During April, the following actual production information was provided: -Refer to Figure 9-4.What is the labor efficiency variance?

Figure 9-1 Bender Corporation produced 100 units of Product AA.The total standard and actual costs for materials and direct labor for the 100 units of Product AA are as follows: - Refer to Figure 9-1.What is the material price variance for Bender Corporation?

Senocot Corporation uses two different types of labor to manufacture its product.The types of labor, Assembly and Finishing, have the following standards: During January, the following actual production information was provided: Required: Calculate the labor efficiency and mix and yield variances.

Figure 9-4 Regis Corporation uses two materials in the production of its product.The materials, X and Y, have the following standards: During April, the following actual production information was provided: -Refer to Figure 9-4.What is the labor mix variance?

During October, 10,000 direct labor hours were worked at a standard cost of $10 per hour.If the direct labor rate variance for October was $4,000 unfavorable, the actual cost per direct labor hour must be

If variable manufacturing overhead is applied based on direct labor hours and there is an unfavorable direct labor efficiency variance

Gina Production Company uses a standard costing system.The following information pertains to 2011: The factory overhead rate is based on an activity level of 10,000 units.Standard cost data for 5,000 units is as follows: What is the fixed overhead volume variance for Gina Production Company?

Bread Company has developed the following standards for one of its products. The company records materials price variances at the time of purchase. - The variable manufacturing overhead efficiency variance is

Figure 9-4 Regis Corporation uses two materials in the production of its product.The materials, X and Y, have the following standards: During April, the following actual production information was provided: - Refer to Figure 9-4.What is the labor yield variance?

Figure 9-3 Reynolds Manufacturing Company has the following information pertaining to a normal monthly 10,000 units of: Standard factory overhead rates are based on a normal monthly volume of one standard direct hour per unit. Standard factory overhead rates per direct labor hour are: - Refer to Figure 9-3.What is the variable overhead spending variance for Reynolds?

How are standards developed? What is the difference between ideal and currently attainable standards?

Figure 9-3 Reynolds Manufacturing Company has the following information pertaining to a normal monthly 10,000 units of: Standard factory overhead rates are based on a normal monthly volume of one standard direct hour per unit. Standard factory overhead rates per direct labor hour are: -Refer to Figure 9-3.What is the fixed overhead spending variance for Reynolds?