Question :
41. At the beginning of the year, Fox Manufacturing had budgeted : 1295664
41. At the beginning of the year, Fox Manufacturing had budgeted for the production and sale of 84,000 units. The standard sales price and variable cost per unit were budgeted to be $25.00 and $10.00, respectively. Actual sales for the year totaled 81,000 units, and the actual sales price and variable cost per unit were $24.00 and $10.00, respectively. Both budgeted and actual fixed costs were $75,000. Refer to the Fox Manufacturing information above. What was Fox’s sales price variance for the year? A. $81,000 FB. $81,000 UC. $84,000 FD. $84,000 U
42. Differences in sales revenue between the flexible budget and actual results can be attributable to: A. the sales volume variance.B. the flexible budget variance.C. the sales price variance.D. the variable overhead efficiency variance.
43. Martin Corp. had an unfavorable sales price variance of $4,800 for 2006. Martin had budgeted for sales of 10,000 units at a sales price of $5 each. Actual sales in 2006 totaled 12,000 units. What was the actual sales price per unit? A. $5.40B. $4.60C. $4.52D. $5.48
44. In early 2008, JAX Inc. had budgeted for the production and sales of 6,000 units at a sales price of $20 per unit. The following information is available regarding the standard cost for each unit:
Direct materials:
2 pounds at $3.00 per lb
Direct labor:
30 minutes of assembly at $.25 per minute
Actual results for 2008 were determined to be as follows:
Number of units produced and sold:
6,800 units
Sales revenue:
$149,600 ($22 per unit)
Direct materials cost:
$43,384 (14,960 lbs purchased and used at $2.90 per lb)
Direct labor cost:
$59,024 (210,800 minutes at $.28 per minute)
Refer to the JAX Inc. information above. What was JAX Inc.’s sales volume variance for 2008? A. $1,600B. $5,552C. $5,200D. $3,952
45. In early 2008, JAX Inc. had budgeted for the production and sales of 6,000 units at a sales price of $20 per unit. The following information is available regarding the standard cost for each unit:
Direct materials:
2 pounds at $3.00 per lb
Direct labor:
30 minutes of assembly at $.25 per minute
Actual results for 2008 were determined to be as follows:
Number of units produced and sold:
6,800 units
Sales revenue:
$149,600 ($22 per unit)
Direct materials cost:
$43,384 (14,960 lbs purchased and used at $2.90 per lb)
Direct labor cost:
$59,024 (210,800 minutes at $.28 per minute)
Refer to the JAX Inc. information above. What was JAX Inc.’s sales price variance for 2008? A. $29,600 FB. $29,600 UC. $13,600 FD. $13,600 U
46. In early 2008, JAX Inc. had budgeted for the production and sales of 6,000 units at a sales price of $20 per unit. The following information is available regarding the standard cost for each unit:
Direct materials:
2 pounds at $3.00 per lb
Direct labor:
30 minutes of assembly at $.25 per minute
Actual results for 2008 were determined to be as follows:
Number of units produced and sold:
6,800 units
Sales revenue:
$149,600 ($22 per unit)
Direct materials cost:
$43,384 (14,960 lbs purchased and used at $2.90 per lb)
Direct labor cost:
$59,024 (210,800 minutes at $.28 per minute)
Refer to the JAX Inc. information above. What was JAX Inc.’s direct materials price variance for 2008? A. $1,496 FB. $1,496 UC. $1,360 FD. $1,360 U
47. In early 2008, JAX Inc. had budgeted for the production and sales of 6,000 units at a sales price of $20 per unit. The following information is available regarding the standard cost for each unit:
Direct materials:
2 pounds at $3.00 per lb
Direct labor:
30 minutes of assembly at $.25 per minute
Actual results for 2008 were determined to be as follows:
Number of units produced and sold:
6,800 units
Sales revenue:
$149,600 ($22 per unit)
Direct materials cost:
$43,384 (14,960 lbs purchased and used at $2.90 per lb)
Direct labor cost:
$59,024 (210,800 minutes at $.28 per minute)
Refer to the JAX Inc. information above. What was JAX Inc.’s direct materials usage variance for 2008? A. $4,080 FB. $4,080 UC. $2,584 FD. $2,584 U
48. In early 2008, JAX Inc. had budgeted for the production and sales of 6,000 units at a sales price of $20 per unit. The following information is available regarding the standard cost for each unit:
Direct materials:
2 pounds at $3.00 per lb
Direct labor:
30 minutes of assembly at $.25 per minute
Actual results for 2008 were determined to be as follows:
Number of units produced and sold:
6,800 units
Sales revenue:
$149,600 ($22 per unit)
Direct materials cost:
$43,384 (14,960 lbs purchased and used at $2.90 per lb)
Direct labor cost:
$59,024 (210,800 minutes at $.28 per minute)
Refer to the JAX Inc. information above. What was JAX Inc.’s direct labor rate variance for 2008? A. $1,904 FB. $1,904 UC. $6,324 FD. $6,324 U
49. In early 2008, JAX Inc. had budgeted for the production and sales of 6,000 units at a sales price of $20 per unit. The following information is available regarding the standard cost for each unit:
Direct materials:
2 pounds at $3.00 per lb
Direct labor:
30 minutes of assembly at $.25 per minute
Actual results for 2008 were determined to be as follows:
Number of units produced and sold:
6,800 units
Sales revenue:
$149,600 ($22 per unit)
Direct materials cost:
$43,384 (14,960 lbs purchased and used at $2.90 per lb)
Direct labor cost:
$59,024 (210,800 minutes at $.28 per minute)
Refer to the JAX Inc. information above. What was JAX Inc.’s direct labor efficiency variance for 2008? A. $1,700 FB. $1,700 UC. $6,120 FD. $6,120 U
50. Carlton Corporation produces and sells faux-leather handbags. In the current year, the company budgeted for the production and sale of 1,000 handbags; however, 900 handbags were actually produced and sold. Each bag has a standard requiring two yards of material at a cost of $4.00 per yard and 1 hour of assembly time at a cost of $9.50 per hour. Actual costs for the production of 900 bags were $7,215 for materials (1,850 yards purchased and used @ $3.90 per yard) and $10,125 for labor (1,125 hours @ $9.00 per hour). Refer to the Carlton Corporation information above. Carlton’s direct materials price variance is: A. $195 UB. $ 15 UC. $185 FD. $180 F
