Question 1

The volume variance provides a measure of the utilization of plant facilities.

Accepted Answer

A) True 
 B)False

Question 2

The volume variance represents the difference between actual fixed manufacturing overhead costs and budgeted fixed manufacturing overhead costs.

Accepted Answer

A) True 
 B)False

Question 3

Labossiere Corporation has provided the following data for November.  
-The volume variance for November is:

Accepted Answer

A) $8,760 U 
B) $2,920 F 
C) $2,920 U 
D) $8,760 F 
A) $8,760 U 
B) $2,920 F 
C) $2,920 U 
D) $8,760 F

Question 4

Wiley Corporation bases its predetermined overhead rate on variable manufacturing overhead cost of $13.90 per machine-hour and fixed manufacturing overhead cost of $944,300 per period.If the denominator level of activity is 7,100 machine-hours,the predetermined overhead rate would be:

Accepted Answer

A) $1,390.00 
B) $146.90 
C) $13.90 
D) $133.00 
A) $1,390.00 
B) $146.90 
C) $13.90 
D) $133.00

Question 5

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

Accepted Answer

a.Budget variance = Actual fixed manufac

Question 6

Madero Corporation's manufacturing overhead includes $6.20 per machine-hour for variable manufacturing overhead and $711,360 per period for fixed manufacturing overhead.
Required:
Determine the predetermined overhead rate for the denominator level of activity of 9,600 machine-hours.

Accepted Answer

Predetermined overhead rate = Estimated

Question 7

One cause of an unfavorable overhead volume variance would be increases in cost for fixed manufacturing overhead items.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following variances would be useful in calling attention to possible problems in the control of spending on overhead items?

Accepted Answer

A) Option A 
B) Option B 
C) Option C 
D) Option D 
A) Option A 
B) Option B 
C) Option C 
D) Option D

The volume variance provides a measure of the utilization of plant facilities.

The volume variance represents the difference between actual fixed manufacturing overhead costs and budgeted fixed manufacturing overhead costs.

Labossiere Corporation has provided the following data for November. -The volume variance for November is:

Wiley Corporation bases its predetermined overhead rate on variable manufacturing overhead cost of $13.90 per machine-hour and fixed manufacturing overhead cost of $944,300 per period.If the denominator level of activity is 7,100 machine-hours,the predetermined overhead rate would be:

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

Madero Corporation's manufacturing overhead includes $6.20 per machine-hour for variable manufacturing overhead and $711,360 per period for fixed manufacturing overhead. Required: Determine the predetermined overhead rate for the denominator level of activity of 9,600 machine-hours.

One cause of an unfavorable overhead volume variance would be increases in cost for fixed manufacturing overhead items.

Which of the following variances would be useful in calling attention to possible problems in the control of spending on overhead items?

Managerial Accounting and the Business Environment

Managerial Accounting and Cost Concepts

Cost Behavior: Analysis and Use

Cost-Volume-Profit Relationships

Systems Design: Job-Order Costing

Variable Costing: a Tool for Management

Activity-Based Costing: a Tool to Aid Decision Making

Profit Planning

Flexible Budgets and Performance Analysis

Standard Costs and Operating Performance Measures

Segment Reporting,decentralization,and the Balanced Scorecard

Relevant Costs for Decision Making

Capital Budgeting Decisions

Pricing Products and Services

Profitability Analysis

Least-Squares Regression Computations

The Predetermined Overhead Rate and Capacity

Abc Action Analysis

Transfer Pricing

Service Department Charges

The Concept of Present Value

Income Taxes in Capital Budgeting Decisions

Filters

Exam 19: Predetermined Overhead Rates and Overhead Analysis in a Standard Costing System

The volume variance provides a measure of the utilization of plant facilities.

The volume variance represents the difference between actual fixed manufacturing overhead costs and budgeted fixed manufacturing overhead costs.

Labossiere Corporation has provided the following data for November. -The volume variance for November is:

Wiley Corporation bases its predetermined overhead rate on variable manufacturing overhead cost of $13.90 per machine-hour and fixed manufacturing overhead cost of $944,300 per period.If the denominator level of activity is 7,100 machine-hours,the predetermined overhead rate would be:

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

Madero Corporation's manufacturing overhead includes $6.20 per machine-hour for variable manufacturing overhead and $711,360 per period for fixed manufacturing overhead. Required: Determine the predetermined overhead rate for the denominator level of activity of 9,600 machine-hours.

One cause of an unfavorable overhead volume variance would be increases in cost for fixed manufacturing overhead items.

Which of the following variances would be useful in calling attention to possible problems in the control of spending on overhead items?

Managerial Accounting and the Business Environment

Managerial Accounting and Cost Concepts

Cost Behavior: Analysis and Use

Cost-Volume-Profit Relationships

Systems Design: Job-Order Costing

Variable Costing: a Tool for Management

Activity-Based Costing: a Tool to Aid Decision Making

Profit Planning

Flexible Budgets and Performance Analysis

Standard Costs and Operating Performance Measures

Segment Reporting,decentralization,and the Balanced Scorecard

Relevant Costs for Decision Making

Capital Budgeting Decisions

Pricing Products and Services

Profitability Analysis

Least-Squares Regression Computations

The Predetermined Overhead Rate and Capacity

Abc Action Analysis

Transfer Pricing

Service Department Charges

The Concept of Present Value

Income Taxes in Capital Budgeting Decisions

Filters