Question : 122.Barnes Company produces men’s ties. The following budgeted amounts were : 1302881

 

 

122.Barnes Company produces men’s ties. The following budgeted amounts were provided by management for the current year:

 

CategoryStandard InputsStandard Cost

Direct materials1.1 yards per tie$4.00 per yard

Direct labor0.32 hours per tie$9.00 per hour

 

Barnes produced and sold 4,000 ties during 2014. Actual performance for the year is:

Direct MaterialsDirect Labor

Yards used in production4,100Labor hours incurred1,240

Yards purchased3,900Actual cost per hour$9.25

Actual cost per yard$3.75

 

How much is the labor rate variance?

A.$310 unfavorable

B.$360 favorable

C.$50 favorable

D.$1,000 unfavorable

 

123.Barnes Company produces men’s ties. The following budgeted amounts were provided by management for the current year:

 

CategoryStandard InputsStandard Cost

Direct materials1.1 yards per tie$4.00 per yard

Direct labor0.32 hours per tie$9.00 per hour

 

Barnes produced and sold 4,000 ties during 2014. Actual performance for the year is:

Direct MaterialsDirect Labor

Yards used in production4,100Labor hours incurred1,240

Yards purchased3,900Actual cost per hour$9.25

Actual cost per yard$3.75

 

How much is the labor efficiency variance?

A.$310 unfavorable

B.$360 favorable

C.$50 favorable

D.$1,000 unfavorable

 

124.Capital Leather Company produces leather footballs. The standard cost for each football is:

 

Direct material2 feet of leather at $4.00 per foot

Direct labor1.5 hours at $12.00 per hour

 

During February, 1,200 footballs were produced and 2,600 feet of leather were purchased at $4.25 per foot. Production usage was 2,300 feet. Direct labor cost incurred was $20,930 for 1,820 hours. How much is the direct material price variance?

A.$650 favorable

B.$650 unfavorable

C.$575 favorable

D.$575 unfavorable

 

125.Capital Leather Company produces leather footballs. The standard cost for each football is:

 

Direct material2 feet of leather at $4.00 per foot

Direct labor1.5 hours at $12.00 per hour

 

During February, 1,200 footballs were produced and 2,600 feet of leather were purchased at $4.25 per foot. Production usage was 2,300 feet. Direct labor cost incurred was $20,930 for 1,820 hours. How much is the direct material quantity variance?

A.$100 unfavorable

B.$400 favorable

C.$800 favorable

D.$800 unfavorable

 

126.Capital Leather Company produces leather footballs. The standard cost for each football is:

 

Direct material2 feet of leather at $4.00 per foot

Direct labor1.5 hours at $12.00 per hour

 

During February, 1,200 footballs were produced and 2,600 feet of leather were purchased at $4.25 per foot. Production usage was 2,300 feet. Direct labor cost incurred was $20,930 for 1,820 hours. How much is the direct labor rate variance?

A.$900 favorable

B.$900 unfavorable

C.$910 favorable

D.$910 unfavorable

 

127.Capital Leather Company produces leather footballs. The standard cost for each football is:

 

Direct material2 feet of leather at $4.00 per foot

Direct labor1.5 hours at $12.00 per hour

 

During February, 1,200 footballs were produced and 2,600 feet of leather were purchased at $4.25 per foot. Production usage was 2,300 feet. Direct labor cost incurred was $20,930 for 1,820 hours. How much is the direct labor efficiency variance?

A.$20 unfavorable

B.$240 unfavorable

C.$360 unfavorable

D.$360 favorable

 

128.Standard Gears produces lawn mower gears. It uses units as the cost driver for overhead. The following information was provided concerning its standard cost system:

 

Actual DataBudgeted and Standard Data

Produced12,400 unitsBudgeted units12,500 units

Materials purchased4,650 lbs. for a total cost of $32,550Budgeted materials0.40 lb. @ $7.10 per lb.

Materials used4,700 lbs.Budgeted labor36 minutes @ $11.00 per hour

Labor worked7,460 hrs. costing $79,822Budgeted variable overhead$35,625

Actual overheadFixed: $84,800

Variable $36,100Budgeted fixed overhead$85,500

 

How much is the standard cost of each lawn mower gear?

A.$25.59

B.$19.13

C.$9.44

D.$19.28

 

129.Standard Gears produces lawn mower gears. It uses units as the cost driver for overhead. The following information was provided concerning its standard cost system:

 

Actual DataBudgeted and Standard Data

Produced12,400 unitsBudgeted units12,500 units

Materials purchased4,650 lbs. for a total cost of $32,550Budgeted materials0.40 lb. @ $7.10 per lb.

Materials used4,700 lbs.Budgeted labor36 minutes @ $11.00 per hour

Labor worked7,460 hrs. costing $79,822Budgeted variable overhead$35,625

Actual overheadFixed: $84,800

Variable $36,100Budgeted fixed overhead$85,500

 

How much is the direct material price variance?

A.$465 favorable

B.$1,846 favorable

C.$470 favorable

D.$2,201 favorable

 

130.Standard Gears produces lawn mower gears. It uses units as the cost driver for overhead. The following information was provided concerning its standard cost system:

 

Actual DataBudgeted and Standard Data

Produced12,400 unitsBudgeted units12,500 units

Materials purchased4,650 lbs.; total cost $32,550Budgeted materials0.40 lb. @ $7.10 per lb.

Materials used4,700 lbs.Budgeted labor36 minutes @ $11.00/hour

Labor worked7,460 hrs. costing $79,822Budgeted variable overhead$35,625

Actual overheadFixed: $84,800

Variable $36,100Budgeted fixed overhead$85,500

 

What is the direct material quantity variance?

A.$465 favorable

B.$1,846 favorable

C.$470 favorable

D.$2,201 favorable

 

131.Billy Bob Subs has the following standard cost to produce a king size party sub sandwich.

 

Direct materials = 4 pounds @ $3.00 per pound = $12.00 per sub

Direct labor = 1/2 hour @ $8.00 per hour = $4.00 per sub

 

During December, the company produced 1,000 party subs, bought 4,300 pounds and used 4,100 pounds of meat at $3.20 per pound, and used 490 hours of labor at a total cost of $4,018. How much is the direct labor rate variance?

A.$98 unfavorable

B.$18 unfavorable

C.$80 favorable

D.$178 unfavorable