Question :
81. The following data given for the Taylor Company:
Budgeted production
1,000 units
: 1246896
81. The following data is given for the Taylor Company:
Budgeted production
1,000 units
Actual production
980 units
Materials:
Standard price per lb
$2.00
Standard pounds per completed unit
12
Actual pounds purchased and used in production
11,800
Actual price paid for materials
$23,000
Labor:
Standard hourly labor rate
$14 per hour
Standard hours allowed per completed unit
4.5
Actual labor hours worked
4,560
Actual total labor costs
$62,928
Overhead:
Actual and budgeted fixed overhead
$27,000
Standard variable overhead rate
$3.50 per standard labor hour
Actual variable overhead costs
$15,500
Overhead is applied on standard labor hours. The direct material price variance is: A. 600FB. 600UC. 80FD. 80U
82. The following data is given for the Taylor Company:
Budgeted production
1,000 units
Actual production
980 units
Materials:
Standard price per lb
$2.00
Standard pounds per completed unit
12
Actual pounds purchased and used in production
11,800
Actual price paid for materials
$23,000
Labor:
Standard hourly labor rate
$14 per hour
Standard hours allowed per completed unit
4.5
Actual labor hours worked
4,560
Actual total labor costs
$62,928
Overhead:
Actual and budgeted fixed overhead
$27,000
Standard variable overhead rate
$3.50 per standard labor hour
Actual variable overhead costs
$15,500
Overhead is applied on standard labor hours. The direct material quantity variance is: A. 600FB. 600UC. 80FD. 80U
83. The following data is given for the Stringer Company:
Budgeted production
26,000 units
Actual production
27,500 units
Materials:
Standard price per ounce
$6.50
Standard ounces per completed unit
8
Actual ounces purchased and used in production
228,000
Actual price paid for materials
$1,504,800
Labor:
Standard hourly labor rate
$22 per hour
Standard hours allowed per completed unit
6.6
Actual labor hours worked
183,000
Actual total labor costs
$4,020,000
Overhead:
Actual and budgeted fixed overhead
$1,029,600
Standard variable overhead rate
$24.50 per standard labor hour
Actual variable overhead costs
$4,520,000
Overhead is applied on standard labor hours. The direct material price variance is: A. 22,800UB. 22,800FC. 52,000UD. 52,000F
84. The following data is given for the Stringer Company:
Budgeted production
26,000 units
Actual production
27,500 units
Materials:
Standard price per ounce
$6.50
Standard ounces per completed unit
8
Actual ounces purchased and used in production
228,000
Actual price paid for materials
$1,504,800
Labor:
Standard hourly labor rate
$22 per hour
Standard hours allowed per completed unit
6.6
Actual labor hours worked
183,000
Actual total labor costs
$4,020,000
Overhead:
Actual and budgeted fixed overhead
$1,029,600
Standard variable overhead rate
$24.50 per standard labor hour
Actual variable overhead costs
$4,520,000
Overhead is applied on standard labor hours. The direct material quantity variance is: A. 22,800FB. 22,800UC. 52,000FD. 52,000U
85. The Lucy Corporation purchased and used 129,000 board feet of lumber in production, at a total cost of $1,548,000. Original production had been budgeted for 22,000 units with a standard material quantity of 5.7 board feet per unit and a standard price of $12 per board foot. Actual production was 23,500 units. Compute the material price variance. A. 0B. 59,400UC. 59,400FD. 6,000U
86. The Lucy Corporation purchased and used 129,000 board feet of lumber in production, at a total cost of $1,548,000. Original production had been budgeted for 22,000 units with a standard material quantity of 5.7 board feet per unit and a standard price of $12 per board foot. Actual production was 23,500 units. Compute the material quantity variance. A. 63,000FB. 63,000UC. 59,400FD. 59,400U
87. If the wage rate paid per hour differs from the standard wage rate per hour for direct labor, the variance is termed: A. variable varianceB. rate varianceC. quantity varianceD. volume variance
88. If the actual direct labor hours spent producing a commodity differ from the standard hours, the variance is termed: A. time varianceB. price varianceC. quantity varianceD. rate variance
89. The following data relate to direct labor costs for the current period:
Standard costs
7,500 hours at $11.50
Actual costs
6,000 hours at $12.00
What is the direct labor time variance? A. $3,000 favorableB. $15,000 unfavorableC. $2,400 favorableD. $17,250 favorable
90. The following data relate to direct labor costs for the current period:
Standard costs
6,000 hours at $12.00
Actual costs
7,500 hours at $11.60
What is the direct labor rate variance? A. $15,000 unfavorableB. $3,000 favorableC. $17,400 unfavorableD. $2,400 favorable
