Question : 69.              The total standard cost to produce one unit of : 1311900

69.              The total standard cost to produce one unit of product is shown

a.at the bottom of the income statement.

b.at the bottom of the balance sheet.

c.on the standard cost card.

d.in the Work in Process Inventory account.

70.              An unfavorable materials quantity variance would occur if

a.more materials were purchased than were used.

b.actual pounds of materials used were less than the standard pounds allowed.

c.actual labor hours used were greater than the standard labor hours allowed.

d.actual pounds of materials used were greater than the standard pounds allowed.

71.Oxnard Industries produces a product that requires 2.6 pounds of materials per unit. The allowance for waste and spoilage per unit is .3 pounds and .1 pounds, respectively. The purchase price is $2 per pound, but a 2% discount is usually taken. Freight costs are $.10 per pound, and receiving and handling costs are $.07 per pound. The hourly wage rate is $12.00 per hour, but a raise which will average $.30 will go into effect soon. Payroll taxes are $1.20 per hour, and fringe benefits average $2.40 per hour. Standard production time is 1 hour per unit, and the allowance for rest periods and setup is .2 hours and .1 hours, respectively. The standard direct materials price per pound is

a.$1.96.

b.$2.00.

c.$2.13

d.$2.17

72.              Oxnard Industries produces a product that requires 2.6 pounds of materials per unit. The allowance for waste and spoilage per unit is .3 pounds and .1 pounds, respectively. The purchase price is $2 per pound, but a 2% discount is usually taken. Freight costs are $.10 per pound, and receiving and handling costs are $.07 per pound. The hourly wage rate is $12.00 per hour, but a raise which will average $.30 will go into effect soon. Payroll taxes are $1.20 per hour, and fringe benefits average $2.40 per hour. Standard production time is 1 hour per unit, and the allowance for rest periods and setup is .2 hours and .1 hours, respectively. The standard direct materials quantity per unit is

a.2.6 pounds.

b.2.7 pounds.

c.2.9 pounds.

d.3.0 pounds.

73.              Oxnard Industries produces a product that requires 2.6 pounds of materials per unit. The allowance for waste and spoilage per unit is .3 pounds and .1 pounds, respectively. The purchase price is $2 per pound, but a 2% discount is usually taken. Freight costs are $.10 per pound, and receiving and handling costs are $.07 per pound. The hourly wage rate is $12.00 per hour, but a raise which will average $.30 will go into effect soon. Payroll taxes are $1.20 per hour, and fringe benefits average $2.40 per hour. Standard production time is 1 hour per unit, and the allowance for rest periods and setup is .2 hours and .1 hours, respectively. The standard direct labor rate per hour is

a.$ 12.00.

b.$ 12.30.

c.$15.60.

d.$15.90.

74.              Oxnard Industries produces a product that requires 2.6 pounds of materials per unit. The allowance for waste and spoilage per unit is .3 pounds and .1 pounds, respectively. The purchase price is $2 per pound, but a 2% discount is usually taken. Freight costs are $.10 per pound, and receiving and handling costs are $.07 per pound. The hourly wage rate is $12.00 per hour, but a raise which will average $.30 will go into effect soon. Payroll taxes are $1.20 per hour, and fringe benefits average $2.40 per hour. Standard production time is 1 hour per unit, and the allowance for rest periods and setup is .2 hours and .1 hours, respectively. The standard direct labor hours per unit is

a.1 hour.

b.1.1 hours.

c.1.2 hours.

d.1.3 hours.

75.              The standard direct materials quantity does not include allowances for

a.unavoidable waste.

b.normal spoilage.

c.unexpected spoilage.

d.all of the above are included.

76.              Allowances should not be made in the direct labor quantity standard for

a.wasted time.

b.rest periods.

c.cleanup.

d.machine downtime.

77.              The standard predetermined overhead rate used in setting the standard overhead cost is determined by dividing

a.budgeted overhead costs by an expected standard activity index.

b.actual overhead costs by an expected standard activity index.

c.budgeted overhead costs by actual activity.

d.actual overhead costs by actual activity.

78.              Hofburg’s standard quantities for 1 unit of product include 2 pounds of materials and 1.5 labor hours. The standard rates are $2 per pound and $7 per hour. The standard overhead rate is $8 per direct labor hour. The total standard cost of Hofburg’s product is

a.$14.50.

b.$17.00.

c.$22.50.

d.$26.50.