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