Question :
71. The standard materials cost to produce 1 unit of Product : 1225696
71. The standard materials cost to produce 1 unit of Product M is 6 pounds of material at a standard price of $50 per pound. In manufacturing 8,000 units, 47,000 pounds of material were used at a cost of $51 per pound. What is the total direct materials cost variance?
A. $48,000 unfavorable.
B. $51,000 favorable.
C. $51,000 unfavorable.
D. $3,000 favorable.
E. $3,000 unfavorable.
72. The following information describes a company’s usage of direct labor in a recent period. The direct labor efficiency variance is:
A. $28,000 unfavorable.
B. $28,000 favorable.
C. $45,000 unfavorable.
D. $45,000 favorable.
E. $17,000 unfavorable.
73. The following information describes a company’s usage of direct labor in a recent period. The direct labor rate variance is:
A. $28,000 favorable.
B. $28,000 unfavorable.
C. $45,000 unfavorable.
D. $45,000 favorable.
E. $17,000 unfavorable.
74. A company uses the following standard costs to produce a single unit of output.
During the latest month, the company purchased and used 58,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $56,350 based on 4,900 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $15,000 and fixed manufacturing overhead incurred was $10,400. Based on this information, the direct materials price variance for the month was:
A. $6,000 unfavorable
B. $1,800 favorable
C. $1,000 favorable
D. $5,800 unfavorable
E. $1,800 unfavorable
75. A company uses the following standard costs to produce a single unit of output.
During the latest month, the company purchased and used 58,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $56,350 based on 4,900 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $15,000 and fixed manufacturing overhead incurred was $10,400. Based on this information, the direct materials quantity variance for the month was:
A. $1,800 favorable
B. $5,800 unfavorable
C. $5,800 favorable
D. $1,800 unfavorable
E. $1,000 favorable
76. A company uses the following standard costs to produce a single unit of output.
During the latest month, the company purchased and used 58,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $56,350 based on 4,900 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $15,000 and fixed manufacturing overhead incurred was $10,400. Based on this information, the direct labor rate variance for the month was:
A. $1,200 favorable
B. $3,650 favorable
C. $2,450 favorable
D. $3,650 unfavorable
E. $1,200 unfavorable
77. A company uses the following standard costs to produce a single unit of output.
During the latest month, the company purchased and used 58,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $56,350 based on 4,900 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $15,000 and fixed manufacturing overhead incurred was $10,400. Based on this information, the direct labor efficiency variance for the month was:
A. $3,650 favorable
B. $2,450 favorable
C. $1,200 unfavorable
D. $1,200 favorable
E. $2,450 unfavorable
78. Overhead cost variance is:
A. The difference between the overhead costs actually incurred and the overhead budgeted at the actual operating level.
B. The difference between the actual overhead incurred during a period and the standard overhead applied.
C. The difference between actual and budgeted cost caused by the difference between the actual price per unit and the budgeted price per unit.
D. The costs that should be incurred under normal conditions to produce a specific product (or component) or to perform a specific service.
E. The difference between the total overhead cost that would have been expected if the actual operating volume had been accurately predicted and the amount of overhead cost that was allocated to products using the standard overhead rate.
79. The sum of the variable overhead spending variance, the variable overhead efficiency variance, and the fixed overhead spending variance is the:
A. Production variance.
B. Quantity variance.
C. Volume variance.
D. Price variance.
E. Controllable variance.
80. The difference between the total budgeted fixed overhead cost and the fixed overhead applied to production using the predetermined overhead rate is the:
A. Production variance.
B. Volume variance.
C. Overhead cost variance.
D. Quantity variance.
E. Controllable variance.
