Which of the following is the difference between the actual cost of materials and the materials...
Which of the following is the difference between the actual cost of materials and the materials cost allowed for the actual level of activity?
a.Total materials margin
b.Total materials variance
c.Total materials regression
d.Total materials cost
e.None of these choices are correct.
Homework Answers
| Option B is the answer | |
|
Total materials variance is the difference between actual cost of materials and the cost of materials allowed for actual production. Comment if you face any issues |
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Which of the following is the difference between the actual cost
of materials and the materials...
_ 16. The total manufacturing cost variance is a. the difference between actual costs and standard...
_ 16. The total manufacturing cost variance is a. the difference between actual costs and standard costs for units produced b. the flexible budget variance plus the time variance c. the difference between planned costs and standard costs for units produced d. None of these choices
Question text Which term describes difference between the actual price of inputs and the standard price...
Question text Which term describes difference between the actual price of inputs and the standard price of inputs? Select one: A. Standard cost variance B. Materials price index C. Price variance D. Inflation index adjustment
The difference between the actual cost of the input and its planned cost is the total...
The difference between the actual cost of the input and its planned cost is the total budget variance. the usage variance. the price variance. the efficiency variance. the budget variance. 4.5 points Save Answer QUESTION 17 O The labor efficiency variance is calculated by the equation (Standard Hours' Actual Hours) - (Actual Hours 'Standard Rate). (Actual Rate' Actual Hours) - (Standard Rate' Actual Hours). (Actual Hours 'Standard Rate) - (Standard Hours 'Standard Rate). (Standard Hours' Actual Rate) - (Actual
A. Compute the actual cost per foot for materials for March Actual Cost per foot Compute...
A. Compute the actual cost per foot for materials for
March
Actual Cost
per foot
Compute the price variance and the spending variance.
(Do not round intermediate calculations. Indicate the
effect of each variance by selecting "F" for favorable, "U" for
unfavorable, and "None" for no effect (i.e., zero
variance))
Price Variance
Unfavorable
Spending Variance
Unfavorable
For direct labor:
a. Compute the standard direct labor rate per hour. (Do
not round intermediate calculations. Round your final answer to 2
decimal...
iThe variance is the average squared difference between which of the following? Actual return and average...
iThe variance is the average squared difference between which of the following? Actual return and average return Actual return and (average return/N - 1) Actual return and the real return Average return and the standard deviation Actual return and the risk-free rate
U lu di stuttenng -- Saved The overhead cost variance is: The difference between the overhead...
U lu di stuttenng -- Saved The overhead cost variance is: The difference between the overhead costs actually incurred and the overhead budgeted at the actual operating level 0 The difference between the actual overhead incurred during a period and the standard overhead applied. 0 The difference between actual and budgeted cost caused by the difference between the actual price per unit and the budgeted price per unit 0 The costs that should be incurred under normal conditions to produce...
Caps L Shift 29. The difference between the split cost and the standard cost for direct...
Caps L Shift 29. The difference between the split cost and the standard cost for direct materials is called the Select one a Materials Price Variance b Materials Usage Variance eMaterials Eficiency Variance d. Materials Budget Variance e None of the above 30. Which of the following could cause a variable overhead flexible budget variance? a Varlable overhead costs being greater than expected for the given driver usage Select one: b. Variable overhead costs being less than expected for the...
answere 17 to 20 The following labour standards have been established for a particular product: Standard...
answere 17 to 20
The following labour standards have been established for a particular product: Standard labour hours per unit of output Standard labour rate 7.5 hours $15.25 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labour cost Actual output 9,600 hours $144,480 1,200 units 17) What was the labour rate variance for the month? a) $240 favourable. b) $240 unfavourable. c) $1,920 favourable. d) $1,920 unfavourable. 18)...
Assume that machine hours is the cost driver for overhead. The difference between the actual variable...
Assume that machine hours is the cost driver for overhead. The difference between the actual variable overhead incurred and the applied variable overhead is the: Select one: a. spending variance. b. volume variance. c. efficiency variance. d. sum of the spending and efficiency variances. e. production variance.
Direct Materials, Direct Labor, and Reports budgeted and actual costs for variable and fixed factory overhead...
Direct Materials, Direct Labor, and Reports budgeted and actual costs for variable and fixed factory overhead along with the related controllable and volume variances.Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical into plastic. A detailed estimate of what a product should cost.Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 70,000 units of product were as follows: Standard Costs Actual Costs Direct materials 189,000 lbs. at $6.00 187,100...
_ 16. The total manufacturing cost variance is a. the difference between actual costs and standard costs for units produced b. the flexible budget variance plus the time variance c. the difference between planned costs and standard costs for units produced d. None of these choices
The difference between the actual cost of the input and its planned cost is the total budget variance. the usage variance. the price variance. the efficiency variance. the budget variance. 4.5 points Save Answer QUESTION 17 O The labor efficiency variance is calculated by the equation (Standard Hours' Actual Hours) - (Actual Hours 'Standard Rate). (Actual Rate' Actual Hours) - (Standard Rate' Actual Hours). (Actual Hours 'Standard Rate) - (Standard Hours 'Standard Rate). (Standard Hours' Actual Rate) - (Actual
A. Compute the actual cost per foot for materials for
March
Actual Cost
per foot
Compute the price variance and the spending variance.
(Do not round intermediate calculations. Indicate the
effect of each variance by selecting "F" for favorable, "U" for
unfavorable, and "None" for no effect (i.e., zero
variance))
Price Variance
Unfavorable
Spending Variance
Unfavorable
For direct labor:
a. Compute the standard direct labor rate per hour. (Do
not round intermediate calculations. Round your final answer to 2
decimal...
U lu di stuttenng -- Saved The overhead cost variance is: The difference between the overhead costs actually incurred and the overhead budgeted at the actual operating level 0 The difference between the actual overhead incurred during a period and the standard overhead applied. 0 The difference between actual and budgeted cost caused by the difference between the actual price per unit and the budgeted price per unit 0 The costs that should be incurred under normal conditions to produce...
Caps L Shift 29. The difference between the split cost and the standard cost for direct materials is called the Select one a Materials Price Variance b Materials Usage Variance eMaterials Eficiency Variance d. Materials Budget Variance e None of the above 30. Which of the following could cause a variable overhead flexible budget variance? a Varlable overhead costs being greater than expected for the given driver usage Select one: b. Variable overhead costs being less than expected for the...
answere 17 to 20
The following labour standards have been established for a particular product: Standard labour hours per unit of output Standard labour rate 7.5 hours $15.25 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labour cost Actual output 9,600 hours $144,480 1,200 units 17) What was the labour rate variance for the month? a) $240 favourable. b) $240 unfavourable. c) $1,920 favourable. d) $1,920 unfavourable. 18)...
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