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VSL Corporation’s Managers Developed the Following Standards for Producing a Widget

Question 110

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VSL Corporation’s managers developed the following standards for producing a widget:
VSL Corporation’s managers developed the following standards for producing a widget: Generally, VSL uses 500 direct labour hours each month in producing widgets. In a recent month, VSL produced 250 widgets and incurred the following costs: VSL calculates the cost variances listed on the left below. Match each variance with the correct item , based on the data above. Each numbered item has only one correct answer. Each lettered item may be used once, more than once, or not at all.
Generally, VSL uses 500 direct labour hours each month in producing widgets. In a recent month, VSL produced 250 widgets and incurred the following costs:
VSL Corporation’s managers developed the following standards for producing a widget: Generally, VSL uses 500 direct labour hours each month in producing widgets. In a recent month, VSL produced 250 widgets and incurred the following costs: VSL calculates the cost variances listed on the left below. Match each variance with the correct item , based on the data above. Each numbered item has only one correct answer. Each lettered item may be used once, more than once, or not at all.
VSL calculates the cost variances listed on the left below. Match each variance with the correct item , based on the data above. Each numbered item has only one correct answer. Each lettered item may be used once, more than once, or not at all.

Premises:
Variable overhead spending variance
Direct labour efficiency variance
Fixed overhead spending variance
Direct materials efficiency variance
Direct materials price variance
Direct labour price variance
Fixed overhead production volume variance
Variable overhead efficiency variance
Responses:
$750 favourable
$300 favourable
Some other amount
$550 favourable
$200unfavourable
25 favourable
No variance
$300 unfavourable
$100 unfavourable

Correct Answer:

$750 favourable
$300 favourable
Some other amount
$550 favourable
$200unfavourable
25 favourable
No variance
$300 unfavourable
$100 unfavourable
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