Question : 132.Billy Bob Subs has the following standard cost to produce : 1302882

 

 

132.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 efficiency variance?

A.$80 favorable

B.$18 unfavorable

C.$98 unfavorable

D.$178 unfavorable

 

133.When Walston Corporation prepared its budget for 2014, it estimated fixed overhead of $540,000 ($45,000 per month) and variable overhead at $3.00 per unit produced. The company planned to produce 48,000 units during the year at a rate of 4,000 units each month. During April, the company produced 3,800 units and total overhead costs were $59,000. How much is the amount of overhead in the flexible budget for April’s level of production?

A.$57,000

B.$45,000

C.$46,000

D.$56,400

134.When Walston Corporation prepared its budget for 2014, it estimated fixed overhead of $540,000 ($45,000 per month) and variable overhead at $3.00 per unit produced. The company planned to produce 48,000 units during the year at a rate of 4,000 units each month. During April, the company produced 3,800 units and total overhead costs were $59,000. How much is the controllable overhead variance for April?

A.$2,000 unfavorable

B.$2,600 unfavorable

C.$600 favorable

D.$2,250 unfavorable

 

135.When Walston Corporation prepared its budget for 2014, it estimated fixed overhead of $540,000 ($45,000 per month) and variable overhead at $3.00 per unit produced. The company planned to produce 48,000 units during the year at a rate of 4,000 units each month. During April, the company produced 3,800 units and total overhead costs were $59,000. How much is the overhead volume variance for April?

A.$2,250 unfavorable

B.$2,850 unfavorable

C.$1,000 unfavorable

D.$1,600 unfavorable

 

136.Haley Fans manufactures and distributes circulators. The standard and actual costs for the manufacture of circulators follows:

 

Standard CostsActual Costs

Variable cost, $24 per unitTotal variable cost, $12,300

Fixed cost, $40 per unitTotal fixed cost, $19,250

 

Budgeted factory overhead was $32,000. Overhead applied is based on the number of circulator units produced. The company estimated that 500 circulators would be produced, however only 480 were produced. How much is budgeted fixed overhead for the year?

A.$30,720

B.$19,200

C.$20,000

D.$12,000

 

137.Haley Fans manufactures and distributes circulators. The standard and actual costs for the manufacture of circulators follows:

 

Standard CostsActual Costs

Variable cost, $24 per unitTotal variable cost, $12,300

Fixed cost, $40 per unitTotal fixed cost, $19,250

 

Budgeted factory overhead was $32,000. Overhead applied is based on the number of circulator units produced. The company estimated that 500 circulators would be produced, however only 480 were produced. How much is Haley’s controllable overhead variance?

A.$800 unfavorable

B.$830 favorable

C.$450 favorable

D.$30 unfavorable

138.Scotch Brand Products produces packaging tape and has determined the following to be its standard cost of producing one case of budget packaging tape:

 

Material (3.50 ounces at $1.30 per ounce)              $4.55

Labor (0.30 hour at $12.00 per hour)              3.60

Overhead                 2.20

Total              $10.35

 

At the start of 2014, Scotch Brand planned to produce 80,000 cases of tape during the year. Overhead is allocated based on the number of cases of tape produced. Annual fixed overhead is budgeted at $56,000 and the standard for variable overhead is $1.50 per case. The following information summarizes the results for 2014:

 

                  Actual production, 75,000 cases

                  Purchased 275,000 ounces of material at a total cost of $343,750

                  Used 266,250 ounces of material in production

                  Employees worked 22,000 hours, total labor cost $275,000

                  Actual overhead incurred, $175,000

 

What is the material price variance for 2014?

A.$4,875 unfavorable

B.$13,750 favorable

C.$13,313 favorable

D.$8,875 favorable

 

139.Scotch Brand Products produces packaging tape and has determined the following to be its standard cost of producing one case of budget packaging tape:

 

 

Material (3.50 ounces at $1.30 per ounce)              $4.55

Labor (0.30 hour at $12.00 per hour)              3.60

Overhead                 2.20

Total              $10.35

 

At the start of 2014, Scotch Brand planned to produce 80,000 cases of tape during the year. Overhead is allocated based on the number of cases of tape produced. Annual fixed overhead is budgeted at $56,000 and variable overhead costs are budgeted at $1.50 per case. The following information summarizes the results for 2014:

 

                  Actual production, 75,000 cases

                  Purchased 275,000 ounces of material at a total cost of $343,750

                  Used 266,250 ounces of material in production

                  Employees worked 22,000 hours, total labor cost $275,000

                  Actual overhead incurred, $175,000

 

How much is the material quantity variance for 2014?

A.$4,875 unfavorable

B.$8,875 favorable

C.$$14,750 favorable

D.$13,750 favorable

 

140.Scotch Brand Products produces packaging tape and has determined the following to be its standard cost of producing one case of budget packaging tape:

 

 

Material (3.50 ounces at $1.30 per ounce)              $4.55

Labor (0.30 hour at $12.00 per hour)              3.60

Overhead                 2.20

Total              $10.35

 

At the start of 2014, Scotch Brand planned to produce 80,000 cases of tape during the year. Overhead is allocated based on the number of cases of tape produced. Annual fixed overhead is budgeted at $56,000 and variable overhead costs are budgeted at $1.50 per case. The following information summarizes the results for 2014:

 

                  Actual production, 75,000 cases

                  Purchased 275,000 ounces of material at a total cost of $343,750

                  Used 266,250 ounces of material in production

                  Employees worked 22,000 hours, total labor cost $275,000

                  Actual overhead incurred, $175,000

 

How much is the labor rate variance for 2014?

A.$6,000 favorable

B.$5,000 unfavorable

C.$24,000 favorable

D.$11,000 unfavorable

 

141.Scotch Brand Products produces packaging tape and has determined the following to be its standard cost of producing one case of budget packaging tape:

 

 

Material (3.50 ounces at $1.30 per ounce)              $4.55

Labor (0.30 hour at $12.00 per hour)              3.60

Overhead                 2.20

Total              $10.35

 

At the start of 2014, Scotch Brand planned to produce 80,000 cases of tape during the year. Overhead is allocated based on the number of cases of tape produced. Annual fixed overhead is budgeted at $56,000 and variable overhead costs are budgeted at $1.50 per case. The following information summarizes the results for 2014:

 

                  Actual production, 75,000 cases

                  Purchased 275,000 ounces of material at a total cost of $343,750

                  Used 266,250 ounces of material in production

                  Employees worked 22,000 hours, total labor cost $275,000

                  Actual overhead incurred, $175,000

 

How much is the labor efficiency variance for 2014?

A.$11,000 unfavorable

B.$5,000 unfavorable

C.$6,000 favorable

D.$24,000 favorable