Question : 152.Harris Manufacturing produces white sauce. It uses units as the : 1302884

 

 

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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