Question : 111. The formula to compute direct labor time variance to calculate : 1246899

 

 

111. The formula to compute direct labor time variance is to calculate the difference between A. actual costs – standard costsB. actual costs + standard costsC. (actual hours * standard rate) – standard costsD. actual costs – (actual hours * standard rate)

 

112. The formula to compute direct materials price variance is to calculate the difference between A. actual costs – (actual quantity * standard price)B. actual cost + standard costsC. actual cost – standard costsD. (actual quantity * standard price) -standard costs

 

113. The formula to compute direct material quantity variance is to calculate the difference between A. actual costs – standard costsB. standard costs – actual costsC. (actual quantity * standard price) – standard costsD. actual costs – (standard price * standard costs)

 

114. Which of the following would not lend itself to applying direct labor variances? A. Help deskB. Administrative assistantC. Customer service personnelD. Telemarketer

 

115. The standard costs and actual costs for factory overhead for the manufacture of 2,500 units of actual production are as follows: 

Standard Costs

Fixed overhead (based on 10,000 hours)

3 hours @ $.80 per hour

Variable overhead

3 hours @ $2 per hour

 

Actual Costs

 

 

     Total variable cost, $18,000

 

     Total fixed cost, $8,000

 

 

 

The amount of the factory overhead volume variance is: A. $2,000 favorableB. $2,000 unfavorableC. $2,500 unfavorableD. $0

 

116. The standard costs and actual costs for factory overhead for the manufacture of 2,500 units of actual production are as follows: 

Standard Costs

Fixed overhead (based on 10,000 hours)

3 hours @ $.80 per hour

Variable overhead

3 hours @ $2 per hour

 

Actual Costs

 

 

     Total variable cost, $18,000

 

     Total fixed cost, $8,000

 

 

 

The amount of the total factory overhead cost variance is: A. $2,000 favorableB. $5,000 unfavorableC. $2,500 unfavorableD. $0

 

117. The standard costs and actual costs for factory overhead for the manufacture of 2,500 units of actual production are as follows: 

Standard Costs

Fixed overhead (based on 10,000 hours)

3 hours @ $.80 per hour

Variable overhead

3 hours @ $2 per hour

 

Actual Costs

 

 

     Total variable cost, $18,000

 

     Total fixed cost, $8,000

 

 

 

The amount of the factory overhead controllable variance is: A. $2,000 unfavorableB. $3,000 favorableC. $0D. $3,000 unfavorable

 

118. The standard factory overhead rate is $10 per direct labor hour ($8 for variable factory overhead and $2 for fixed factory overhead) based on 100% capacity of 30,000 direct labor hours. The standard cost and the actual cost of factory overhead for the production of 5,000 units during May were as follows: 

Standard:

25,000 hours at $10

$250,000

Actual:

Variable factory overhead

202,500

 

Fixed factory overhead

60,000

 

 

 

What is the amount of the factory overhead volume variance? A. $12,500 favorableB. $10,000 unfavorableC. $12,500 unfavorableD. $10,000 favorable

 

119. The standard factory overhead rate is $10 per direct labor hour ($8 for variable factory overhead and $2 for fixed factory overhead) based on 100% capacity of 30,000 direct labor hours. The standard cost and the actual cost of factory overhead for the production of 5,000 units during May were as follows: 

Standard:

25,000 hours at $10

$250,000

Actual:

Variable factory overhead

202,500

 

Fixed factory overhead

60,000

 

 

 

What is the amount of the factory overhead controllable variance? A. $10,000 favorableB. $2,500 unfavorableC. $10,000 unfavorableD. $2,500 favorable

 

120. Assuming that the standard fixed overhead rate is based on full capacity, the cost of available but unused productive capacity is indicated by the: A. factory overhead cost volume varianceB. direct labor cost time varianceC. direct labor cost rate varianceD. factory overhead cost controllable variance