152.Harris Manufacturing produces white sauce. It uses units as the cost driver for overhead. The following information was provided concerning its standard cost system for 2014:
Budgeted and Standard DataActual Data
Material1/4 lb. @ $14 per poundProduced6,200 units
Labor1.4 hrs. @ $16 per hourMaterials purchased1,600 lbs. for $13.70/ pound
Total fixed overhead$84,000Materials used1,520 lbs.
Variable overhead$6.50 per unitLabor worked8,740 hrs. at $15.90/hour
Production6,000 unitsTotal overhead$122,000
How much is the standard cost of white sauce?
A.$50.50
B.$25.90
C.$45.95
D.$46.40
153.Harris Manufacturing produces white sauce. It uses units as the cost driver for overhead. The following information was provided concerning its standard cost system for 2014:
Budgeted and Standard DataActual Data
Material1/4 lb. @ $14 per poundProduced6,200 units
Labor1.4 hrs. @ $16 per hourMaterials purchased1,600 lbs. for $13.70/pound
Total fixed overhead$84,000Materials used1,520 lbs.
Variable overhead$6.50 per unitLabor worked8,740 hrs. at $15.90/hour
Production6,000 unitsTotal overhead$122,000
How much is the flexible budget for overhead for 2014?
A.$122,000
B.$123,000
C.$127,100
D.$124,300
154.Harris Manufacturing produces white sauce. It uses units as the cost driver for overhead. The following information was provided concerning its standard cost system for 2014:
Budgeted and Standard DataActual Data
Material1/4 lb. @ $14 per poundProduced6,200 units
Labor1.4 hrs. @ $16 per hourMaterials purchased1,600 lbs. for $13.70/pound
Total fixed overhead$84,000Materials used1,520 lbs.
Variable overhead$6.50 per unitLabor worked8,740 hrs. at $15.90/hour
Production6,000 unitsTotal overhead$122,000
How much is the overhead volume variance for 2014?
A.$2,300 favorable
B.$2,800 favorable
C.$0
D.$5,100 favorable
155.Harris Manufacturing produces white sauce. It uses units as the cost driver for overhead. The following information was provided concerning its standard cost system for 2014:
Budgeted and Standard DataActual Data
Material1/4 lb. @ $14 per poundProduced6,200 units
Labor1.4 hrs. @ $16 per hourMaterials purchased1,600 lbs. for $13.70/pound
Total fixed overhead$84,000Materials used1,520 lbs.
Variable overhead$6.50 per unitLabor worked8,740 hrs. at $15.90/hour
Production6,000 unitsTotal overhead$122,000
How much is the overhead controllable variance for 2014?
A.$2,300 favorable
B.$2,800 favorable
C.$500 favorable
D.$5,100 favorable
156.Harris Manufacturing produces white sauce. It uses units as the cost driver for overhead. The following information was provided concerning its standard cost system for 2014:
Budgeted and Standard DataActual Data
Material1/4 lb. @ $14 per poundProduced6,200 units
Labor1.4 hrs. @ $16 per hourMaterials purchased1,600 lbs. for $13.70/pound
Total fixed overhead$84,000Materials used1,520 lbs.
Variable overhead$6.50 per unitLabor worked8,740 hrs. at $15.90/hour
Production6,000 unitsTotal overhead$122,000
How much is the direct labor rate variance for 2014?
A.$874 favorable
B.$86 unfavorable
C.$960 unfavorable
D.$5,440 unfavorable
157.Harris Manufacturing produces white sauce. It uses units as the cost driver for overhead. The following information was provided concerning its standard cost system for 2014:
Budgeted and Standard DataActual Data
Material1/4 lb. @ $14 per poundProduced6,200 units
Labor1.4 hrs. @ $16 per hourMaterials purchased1,600 lbs. for $13.70/pound
Total fixed overhead$84,000Materials used1,520 lbs.
Variable overhead$6.50 per unitLabor worked8,740 hrs. costing $15.90/hour
Production6,000 unitsTotal overhead$122,000
How much the direct labor efficiency variance for 2014?
A.$874 favorable
B.$86 unfavorable
C.$960 unfavorable
D.$5,440 unfavorable
158.Harris Manufacturing produces white sauce. It uses units as the cost driver for overhead. The following information was provided concerning its standard cost system for 2014:
Budgeted and Standard DataActual Data
Material1/4 lb. @ $14 per poundProduced6,200 units
Labor1.4 hrs. @ $16 per hourMaterials purchased1,600 lbs. for $13.70/pound
Total fixed overhead$84,000Materials used1,520 lbs.
Variable overhead$6.50 per unitLabor worked8,740 hrs. costing $15.90/hour
Production6,000 unitsTotal overhead$122,000
How much the direct material price variance for 2014?
A.$456 favorable
B.$480 favorable
C.$900 favorable
D.$420 favorable
159.Harris Manufacturing produces white sauce. It uses units as the cost driver for overhead. The following information was provided concerning its standard cost system for 2014:
Budgeted and Standard DataActual Data
Material1/4 lb. @ $14 per poundProduced6,200 units
Labor1.4 hrs. @ $16 per hourMaterials purchased1,600 lbs. for $13.70/pound
Total fixed overhead$84,000Materials used1,520 lbs.
Variable overhead$6.50 per unitLabor worked8,740 hrs. costing $15.90/hour
Production6,000 unitsTotal overhead$122,000
How much the direct material quantity variance for 2014?
A.$456 favorable
B.$480 favorable
C.$900 favorable
D.$420 favorable
*160.Eli uses a standard costing system. At the end of the fiscal year, only the following variance accounts had balances:
Material Price Variance$260 (debit)
Material Quantity Variance$35 (credit)
Labor Efficiency Variance$65 (credit)
Assuming these amounts are not considered significant, which one of the following will be part of the journal entry to close these accounts?
A.Credit to Cost of Goods Sold for $160
B.Debit to Manufacturing Overhead Variances for $260
C.Debit to Cost of Goods Sold for $160
D.Credit to Manufacturing Overhead Control for $160
Material from the appendix to the chapter is marked with an asterisk (*).
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