Question 1

The labor efficiency variance for November is:

Accepted Answer

A) $10,720 U 
B) $10,720 F 
C) $10,653 U 
D) $10,653 F 
A) $10,720 U 
B) $10,720 F 
C) $10,653 U 
D) $10,653 F

Question 2

The materials price variance for June is:

Accepted Answer

A) $3,180 U 
B) $2,860 F 
C) $2,860 U 
D) $3,180 F 
A) $3,180 U 
B) $2,860 F 
C) $2,860 U 
D) $3,180 F

Question 3

The variable overhead rate variance for February is:

Accepted Answer

A) $408 U 
B) $418 F 
C) $418 U 
D) $408 F 
A) $408 U 
B) $418 F 
C) $418 U 
D) $408 F

Question 4

The actual direct labor rate per hour was:

Accepted Answer

A) $5.60 
B) $5.00 
C) $10.00 
D) $4.40 
A) $5.60 
B) $5.00 
C) $10.00 
D) $4.40

Question 5

The labor efficiency variance for March is:

Accepted Answer

A) $480 favorable 
B) $480 unfavorable 
C) $192 favorable 
D) $192 unfavorable 
A) $480 favorable 
B) $480 unfavorable 
C) $192 favorable 
D) $192 unfavorable

Question 6

The materials price variance for March is:

Accepted Answer

A) $940 F 
B) $1,080 F 
C) $1,080 U 
D) $940 U 
A) $940 F 
B) $1,080 F 
C) $1,080 U 
D) $940 U

Question 7

The variable overhead rate variance for June is:

Accepted Answer

A) $96 U 
B) $102 F 
C) $96 F 
D) $102 U 
A) $96 U 
B) $102 F 
C) $96 F 
D) $102 U

Question 8

The labor efficiency variance for September is:

Accepted Answer

A) $5,520 F 
B) $5,376 F 
C) $5,520 U 
D) $5,376 U 
A) $5,520 F 
B) $5,376 F 
C) $5,520 U 
D) $5,376 U

Question 9

When computing standard cost variances, the difference between actual and standard price multiplied by actual quantity yields a(n):

Accepted Answer

A) combined price and quantity variance. 
B) efficiency variance. 
C) price variance. 
D) quantity variance. 
A) combined price and quantity variance. 
B) efficiency variance. 
C) price variance. 
D) quantity variance.

Question 10

The materials price variance for October is:

Accepted Answer

A) $620 F 
B) $616 F 
C) $616 U 
D) $620 U 
A) $620 F 
B) $616 F 
C) $616 U 
D) $620 U

Question 11

The variable overhead rate variance is:

Accepted Answer

A) $4,275 favorable 
B) $4,275 unfavorable 
C) $1,050 unfavorable 
D) $1,050 favorable 
A) $4,275 favorable 
B) $4,275 unfavorable 
C) $1,050 unfavorable 
D) $1,050 favorable

Question 12

The materials quantity variance for September was:

Accepted Answer

A) $2,460 unfavorable 
B) $5,600 unfavorable 
C) $2,400 unfavorable 
D) $5,740 unfavorable 
A) $2,460 unfavorable 
B) $5,600 unfavorable 
C) $2,400 unfavorable 
D) $5,740 unfavorable

Question 13

The variable overhead efficiency variance for March is:

Accepted Answer

A) $320 unfavorable 
B) $320 favorable 
C) $360 unfavorable 
D) $360 favorable 
A) $320 unfavorable 
B) $320 favorable 
C) $360 unfavorable 
D) $360 favorable

Question 14

The direct labor efficiency variance for May is:

Accepted Answer

A) $2,200 favorable 
B) $2,000 favorable 
C) $2,000 unfavorable 
D) $1,800 unfavorable 
A) $2,200 favorable 
B) $2,000 favorable 
C) $2,000 unfavorable 
D) $1,800 unfavorable

Question 15

What is the variable overhead rate variance for the month?

Accepted Answer

A) $3,721 F 
B) $3,721 U 
C) $3,440 F 
D) $3,440 U 
A) $3,721 F 
B) $3,721 U 
C) $3,440 F 
D) $3,440 U

Question 16

The variable overhead rate variance for November is:

Accepted Answer

A) $1,574 F 
B) $1,440 U 
C) $1,574 U 
D) $1,440 F 
A) $1,574 F 
B) $1,440 U 
C) $1,574 U 
D) $1,440 F

Question 17

Buis Corporation, which makes landing gears, has provided the following data for a recent month:   Required:
Determine the rate and efficiency variances for the variable overhead item supplies and indicate whether those variables are favorable or unfavorable. Show your work!

Accepted Answer

Variable overhead rate variance = (AH ×

Question 18

Furson Corporation makes a single product. In a recent period 6,500 units were made and there was an unfavorable labor efficiency variance of $26,000. Direct labor workers were paid $8 per hour and total wages were $182,000. The labor rate variance was zero. The standard labor-hours per unit of output is closest to:

Accepted Answer

A) 3.0 
B) 3.5 
C) 4.0 
D) 4.5 
A) 3.0 
B) 3.5 
C) 4.0 
D) 4.5

Question 19

Variable manufacturing overhead is applied to products on the basis of standard direct labor-hours. If the direct labor efficiency variance is unfavorable, the variable overhead efficiency variance will be:

Accepted Answer

A) favorable. 
B) unfavorable. 
C) either favorable or unfavorable. 
D) zero. 
A) favorable. 
B) unfavorable. 
C) either favorable or unfavorable. 
D) zero.

Question 20

The materials price variance for August is:

Accepted Answer

A) $2,360 U 
B) $2,360 F 
C) $2,226 U 
D) $2,226 F 
A) $2,360 U 
B) $2,360 F 
C) $2,226 U 
D) $2,226 F

The labor efficiency variance for November is:

The materials price variance for June is:

The variable overhead rate variance for February is:

The actual direct labor rate per hour was:

The labor efficiency variance for March is:

The materials price variance for March is:

The variable overhead rate variance for June is:

The labor efficiency variance for September is:

When computing standard cost variances, the difference between actual and standard price multiplied by actual quantity yields a(n):

The materials price variance for October is:

The variable overhead rate variance is:

The materials quantity variance for September was:

The variable overhead efficiency variance for March is:

The direct labor efficiency variance for May is:

What is the variable overhead rate variance for the month?

The variable overhead rate variance for November is:

Buis Corporation, which makes landing gears, has provided the following data for a recent month: Required: Determine the rate and efficiency variances for the variable overhead item supplies and indicate whether those variables are favorable or unfavorable. Show your work!

Variable manufacturing overhead is applied to products on the basis of standard direct labor-hours. If the direct labor efficiency variance is unfavorable, the variable overhead efficiency variance will be:

The materials price variance for August is:

Managerial Accounting and Cost Concepts

Cost-Volume-Profit Relationships

Job-Order Costing

Variable Costing and Segment Reporting: Tools for Management

Activity-Based-Costing: a Tool to Aid Decision Making

Differential Analysis: The Key to Decision Making

Capital Budgeting Decisions

Capital Budgeting Decisions

Profit Planning

Flexible Budgets and Performance Analysis

Performance Measurement in Decentralized Organizations

Managerial Accounting and Cost Concepts

Job-Order Costing

Activity-Based-Costing: a Tool to Aid Decision Making

A Capital Budgeting Decisions

Standard Costs and Variances

Performance Measurement in Decentralized Organizations

Performance Measurement in Decentralized Organizations

Profitability Analysis

Pricing Products and Services

Filters

Exam 12: Standard Costs and Variances

The labor efficiency variance for November is:

The materials price variance for June is:

The variable overhead rate variance for February is:

The actual direct labor rate per hour was:

The labor efficiency variance for March is:

The materials price variance for March is:

The variable overhead rate variance for June is:

The labor efficiency variance for September is:

When computing standard cost variances, the difference between actual and standard price multiplied by actual quantity yields a(n):

The materials price variance for October is:

The variable overhead rate variance is:

The materials quantity variance for September was:

The variable overhead efficiency variance for March is:

The direct labor efficiency variance for May is:

What is the variable overhead rate variance for the month?

The variable overhead rate variance for November is:

Buis Corporation, which makes landing gears, has provided the following data for a recent month: Required: Determine the rate and efficiency variances for the variable overhead item supplies and indicate whether those variables are favorable or unfavorable. Show your work!

Variable manufacturing overhead is applied to products on the basis of standard direct labor-hours. If the direct labor efficiency variance is unfavorable, the variable overhead efficiency variance will be:

The materials price variance for August is:

Managerial Accounting and Cost Concepts

Cost-Volume-Profit Relationships

Job-Order Costing

Variable Costing and Segment Reporting: Tools for Management

Activity-Based-Costing: a Tool to Aid Decision Making

Differential Analysis: The Key to Decision Making

Capital Budgeting Decisions

Capital Budgeting Decisions

Profit Planning

Flexible Budgets and Performance Analysis

Performance Measurement in Decentralized Organizations

Managerial Accounting and Cost Concepts

Job-Order Costing

Activity-Based-Costing: a Tool to Aid Decision Making

A Capital Budgeting Decisions

Standard Costs and Variances

Performance Measurement in Decentralized Organizations

Performance Measurement in Decentralized Organizations

Profitability Analysis

Pricing Products and Services

Filters