Question :
66. The standard costs and actual costs for direct materials for : 1227013
66. The standard costs and actual costs for direct materials for the manufacture of 2,500 actual units of product are as follows:
Standard Costs
Direct materials (per completed unit)
1.04 kilograms @$8.75
Actual Costs
Direct materials
2,500 kilograms @ $8
The amount of direct materials price variance is: A. $1,875 unfavorableB. $1,950 favorableC. $1,875 favorableD. $1,950 unfavorable
67. The standard costs and actual costs for direct materials for the manufacture of 2,500 actual units of product are as follows:
Standard Costs
Direct materials
2,500 kilograms @ $8
Actual Costs
Direct materials
2,600 kilograms @ $8.75
The amount of the direct materials quantity variance is: A. $875 favorableB. $800 unfavorableC. $800 favorableD. $875 unfavorable
68. The following data relate to direct materials costs for November:
Actual costs
4,700 pounds at $5.40
Standard costs
4,500 pounds at $6.00
What is the direct materials price variance? A. $2,700 favorableB. $120 favorableC. $2,820 favorableD. $1,700 unfavorable
69. The following data relate to direct materials costs for November:
Actual costs
4,700 pounds at $5.40
Standard costs
4,500 pounds at $6.00
What is the direct materials quantity variance? A. $2,700 favorableB. $1,200 favorableC. $2,700 favorableD. $1,200 unfavorable
70. If the actual quantity of direct materials used in producing a commodity differs from the standard quantity, the variance is termed a: A. controllable varianceB. price varianceC. quantity varianceD. rate variance
71. If the price paid per unit differs from the standard price per unit for direct materials, the variance is termed a: A. variable varianceB. controllable varianceC. price varianceD. volume variance
72. 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
73. 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
74. 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
75. 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
