Homework Answers
| Budgeted purchase prices of direct materials were set too low without careful analysis of market conditions is not a reason for favorable direct materials price variance. | ||||||||||||||||
| Option C is correct | ||||||||||||||||
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Which of the following does not result in a favorable direct materials price variance? 0 A....
Which of the following is likely to be related to an unfavourable direct materials price variance?...
Which of the following is likely to be related to an unfavourable direct materials price variance? unexpected price decreases in direct materials. Materials were purchased based on a competitive bid. Standard costs were determined correctly. Actual direct material purchases were in larger quantities than normal, resulting in receiving volume discounts. the negotiating skills of the marketing manager.
QUESTION 21 A company provided the following direct materials cost information. Compute the direct materials price...
QUESTION 21 A company provided the following direct materials cost information. Compute the direct materials price variance Standard coste an pireet naterials d cest res,000 nite 2.00/ Actual costan Direct Materials costs incurred (403, 750 uit 2.20/itu O $81,000 Favorable. $81,000 Unfavorable. $80,750 Unfavorable. $80,750 Favorable. O $78,250 Favorable. QUESTION 22 A job was budgeted to require 3 hours of labor per unit at $11.00 per hour. The job consisted of 8,000 units and was completed in 22,000 hours at...
QUESTION 8 In which of the following situations will the overhead volume variance be favorable? O...
QUESTION 8 In which of the following situations will the overhead volume variance be favorable? O When more units are produced than were originally planned O When actual overhead costs are less than the flexible budget When the predetermined overhead rate was set too low When there are units remaining in ending inventory QUESTION 9 Which of the following values is used in the calculations for both the controllable overh variance and the overhead volume variance? Overhead applied to production...
Which of the following will result in an unfavorable direct labor PRICE variance? when actual direct...
Which of the following will result in an unfavorable direct labor PRICE variance? when actual direct labor hours exceed standard direct labor hours when actual direct labor hours are less than standard direct labor hours when the actual direct labor rate exceeds the standard direct labor rate when the actual direct labor rate is less than the standard direct labor rate
1) Stefani Company has gathered the following information about its product. Direct materials: Each unit of...
1) Stefani Company has gathered the following information about its product. Direct materials: Each unit of product contains 4.50 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 1.50 pounds. Materials cost $3 per pound, but Stefani always takes the 5.00% cash discount all of its suppliers offer. Freight costs average $0.30 per pound. Direct labor. Each unit requires 1.70 hours of labor. Setup, cleanup, and downtime average 0.20 hours per unit. The average...
Trico Company set the following standard unit costs for its single product. Direct materials (30 Ibs....
Trico Company set the following standard unit costs for its single product. Direct materials (30 Ibs. @ $4.80 per Ib.) $ 144.00 Direct labor (7 hrs. @ $14 per hr.) 98.00 Factory overhead—variable (7 hrs. @ $6 per hr.) 42.00 Factory overhead—fixed (7 hrs. @ $9 per hr.) 63.00 Total standard cost $ 347.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 64,000 units per quarter. The following flexible budget...
Plz write the number of the questions plus the answer letter Engineers make a design change...
Plz write the number of the questions plus the answer
letter
Engineers make a design change in Product X Unit level activity Batch level activity Product level activity Customer level activity Facility or Organization Sustaining activity Human resources gave a retirement presentation to the company's employees Unit level activity Batch level activity Product level activity Customer level activity Facility or Organization Sustaining activity 13. The budget or schedule that provides necessary input data for the direct labor budget is the:...
0 Data Table lices, and standard unit jes of famous histo mount of resource ata.) met...
0 Data Table lices, and standard unit jes of famous histo mount of resource ata.) met data.) Expected production and sales Expected selling price per unit Total fixed costs $ $ 7,000 units 680 1,400,000 me variance and fi Data Table Direct materials Direct manufacturing labor Standard Quantity 10 pounds 3.7 hours Standard Price 58 per pound $50 per hour Standard Unit Cost $80 $185 During 2017, actual number of units produced and sold was 4,800, at an average selling...
Trico Company set the following standard unit costs for its single product. Direct materials (30 Ibs....
Trico Company set the following standard unit costs for its single product. Direct materials (30 Ibs. @ $5.10 per Ib.) Direct labor (8 hrs. @ $15 per hr.) Factory overhead-Variable (8 hrs. @ $6 per hr.) Factory overhead-Fixed (8 hrs. @ $9 per hr.) Total standard cost $ 153.00 120.00 48.00 72.00 $ 393.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 65,000 units per quarter. The following flexible budget...
Question 15) Mountain Sports Equipment Company projected sales of 82,000 units at a unit sales price...
Question 15) Mountain Sports Equipment Company projected sales of 82,000 units at a unit sales price of $12 for the year Actual sales for the year were 76,000 units at $14.00 per unit. Variable costs were budgeted at $3 per unit, and the actual amount wag $6 per unit. Budgeted fixed costs totaled $376,000, while actual fixed costs amounted to $410,000. What is the sales volume variance for total revenue? A) 80,000 favorable B) $80,000 unfavorable c)$72,000 unfavorable d)$72,000 favorable...
Which of the following is likely to be related to an unfavourable direct materials price variance? unexpected price decreases in direct materials. Materials were purchased based on a competitive bid. Standard costs were determined correctly. Actual direct material purchases were in larger quantities than normal, resulting in receiving volume discounts. the negotiating skills of the marketing manager.
QUESTION 21 A company provided the following direct materials cost information. Compute the direct materials price variance Standard coste an pireet naterials d cest res,000 nite 2.00/ Actual costan Direct Materials costs incurred (403, 750 uit 2.20/itu O $81,000 Favorable. $81,000 Unfavorable. $80,750 Unfavorable. $80,750 Favorable. O $78,250 Favorable. QUESTION 22 A job was budgeted to require 3 hours of labor per unit at $11.00 per hour. The job consisted of 8,000 units and was completed in 22,000 hours at...
QUESTION 8 In which of the following situations will the overhead volume variance be favorable? O When more units are produced than were originally planned O When actual overhead costs are less than the flexible budget When the predetermined overhead rate was set too low When there are units remaining in ending inventory QUESTION 9 Which of the following values is used in the calculations for both the controllable overh variance and the overhead volume variance? Overhead applied to production...
Plz write the number of the questions plus the answer
letter
Engineers make a design change in Product X Unit level activity Batch level activity Product level activity Customer level activity Facility or Organization Sustaining activity Human resources gave a retirement presentation to the company's employees Unit level activity Batch level activity Product level activity Customer level activity Facility or Organization Sustaining activity 13. The budget or schedule that provides necessary input data for the direct labor budget is the:...
0 Data Table lices, and standard unit jes of famous histo mount of resource ata.) met data.) Expected production and sales Expected selling price per unit Total fixed costs $ $ 7,000 units 680 1,400,000 me variance and fi Data Table Direct materials Direct manufacturing labor Standard Quantity 10 pounds 3.7 hours Standard Price 58 per pound $50 per hour Standard Unit Cost $80 $185 During 2017, actual number of units produced and sold was 4,800, at an average selling...
Trico Company set the following standard unit costs for its single product. Direct materials (30 Ibs. @ $5.10 per Ib.) Direct labor (8 hrs. @ $15 per hr.) Factory overhead-Variable (8 hrs. @ $6 per hr.) Factory overhead-Fixed (8 hrs. @ $9 per hr.) Total standard cost $ 153.00 120.00 48.00 72.00 $ 393.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 65,000 units per quarter. The following flexible budget...
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