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

Figure 9-2 Bodacious 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: Materials: Standard Actual Standard: 200 pounds at $3.00 per pound $600 Actual: 220 pounds at $2.85 per pound $627 Direct labor: Standard: 400 hours at $15.00 per hour 6,000 Actual: 368 hours at $16.50 per hour 6,072 -Refer to Figure 9-2. What is the journal entry to record labor variances?

The San Jose Corporation uses two materials in the production of its product. The materials, G and H, have the following standards: During June, the following actual production information was provided: Material Actual Mix G 45,000 units H 30,000 units Yield 54,000 units What is the materials mix variance?

A production would most likely be responsible for an unfavorable variable overhead efficiency variance.

Which of the following equations measures the direct labor rate variance?

If a company produces fewer units than expected, there will be