Question : 42.Which one of the following often used to determine a : 1302873

 

 

42.Which one of the following is often used to determine a standard price for materials?

A.Time-and-motion studies

B.A union labor contract

C.Price lists provided by suppliers

D.Materials requisition forms

 

43.Which of the following is a method of determining the standard quantity of direct labor?

A.An analysis of past data regarding overhead required for various levels of production

B.Labor contract negotiated with the union employees

C.Time-and-motion studies conducted by industrial engineers

D.Suppliers’ estimates of labor quantities to be used

 

44.A company developed a standard cost for overhead. Which of the following involves standard development procedures that are similar to developing overhead standard costs?

A.Standard costs for materials

B.Total number of units to be produced

C.Predetermined overhead rates

D.Budgeted direct labor costs

 

45.Management of Wilson, Inc. developed standards under the assumption that a variety of factors may lead to less than perfect performance. Which type of standard was developed?

A.Ideal standards

B.Actual standards

C.Attainable standards

D.Questionable standards

 

46.Which of the following is a reason that most managers support the use of attainable standards rather than ideal standards?

A.Attainable standards allow for an occasional equipment failure.

B.Attainable standards recognize that suppliers must provide raw materials with no defects.

C.Attainable standards are required in order to have zero variances.

D.Attainable standards motivate employees to achieve perfection.

 

47.Which of the following may cause an unfavorable material variance?

I.More material was used than planned.

II.A company paid a higher price for materials than expected.

III.More materials were used than purchased.

A.I and II

B.II and III

C.I and III

D.I, II, and III

 

48.What are the two most likely reasons an unfavorable total materials variance may exist?

A. Inflation caused an increase in the cost to acquire materials of the same quality, and due to this inflation, the company purchased fewer materials than used.

B. The company used less material than it purchased, and the amount paid for the material was more than the standard price.

C. The price paid was more than the standard price, and the quantity budgeted was less than quantity used.

D.The price paid was more than the standard price, and the quantity used was less than the quantity budgeted

 

49.Lander Foods applied management by exception. Which of the following would have occurred?

A. The company’s managers prepared a flexible budget.

B. Management created a poorly conceived budget.

C. Management forecasted its sales for the budget period.

D. Management investigated all significant variances.

 

50.Scotto Designs has the following standards for the production of scarves:

 

Standard QuantityStandard Price

Direct materials1.2 yards per scarf$4.70 per yard

Direct labor0.15 hours per scarf$11.00 per hour

 

The company used 985 yards of material in order to make 800 scarves in April. The company purchased 1,100 yards at $4.60 per yard. How much is the direct materials quantity variance?

A.$110 favorable

B.$118 unfavorable

C.$8 unfavorable

D.$705 unfavorable

 

51.Scotto Designs has the following standards to make one scarf:

 

Standard QuantityStandard Price

Direct materials1.2 yards per scarf$4.70 per yard

Direct labor0.15 hours per scarf$11.00 per hour

 

The company used 985 yards of material in order to make 800 scarves in April. The company purchased 1,100 yards at $4.60 per yard. How much is the direct materials price variance?

A.$110 favorable

B.$118 unfavorable

C.$8 unfavorable

D.$98.50 favorable

 

 

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