Question :
51) What the fixed manufacturing overhead spending variance? 51) ______ : 1196279
51) What is the fixed manufacturing overhead spending variance? 51) ______ A) $10,000 unfavourable B) $13,500 unfavourable C) $13,500 favourable D) $10,000 favourable E) $14,625 favourable
52) What are the fixed efficiency and the production volume variances, respectively, using 4-variance analysis? 52) ______ A) 0, $200,000 unfavourable B) $50,500 favourable, $199,998 unfavourable C) $50,500 unfavourable, $199,998 favourable D) 0, $200,000 favourable E) There is no efficiency variance, $200,000 favourable.
53) What are the respective spending, efficiency, and production volume variances using 3-variance analysis? 53) ______ A) $10,000 unfavourable, $80,000 favourable, $200,000 unfavourable B) $10,000 unfavourable, $80,000 unfavourable, $200,000 favourable C) $5,000 unfavourable, $25,000 favourable, $0 D) $5,000 favourable, $25,000 unfavourable, $0 E) $10,000 favourable, $80,000 unfavourable, $200,000 favourable
54) Michelle, Inc. is in the process of evaluating its manufacturing overhead costs. What is the variable manufacturing overhead spending variance using 4-variance analysis? 54) ______ A) $30,000 unfavourable B) $20,000 unfavourable C) $28,500 favourable D) $16,000 unfavourable E) $16,000 favourable
55) What is the variable efficiency variance using 4-variance analysis? 55) ______ A) $80,000 unfavourable B) $80,000 favourable C) $181,200 favourable D) $101,200 unfavourable E) $101,200 favourable
56) The total flexible-budget variance is: 56) ______ A) $80,000 unfavourable B) $80,000 favourable C) $90,000 favourable D) $90,000 unfavourable E) $10,000 favourable
57) One of the primary differences between overhead costs in non-manufacturing settings and manufacturing settings is 57) ______ A) GAAP requires the same treatment of manufacturing costs for both manufacturing and non-manufacturing companies. B) only manufacturing companies are required to include overhead costs in their inventoriable costs for financial reporting. C) overhead is typically negligible in a non-manufacturing setting. D) that variable and fixed manufacturing costs are not inventoriable for financial reporting. E) only non-manufacturing companies must include overhead costs as inventoriable costs for financial reporting.
58) A company had the following information pertaining to two different cases:
Case XCase Y
Budgeted fixed overhead$130,000$230,000
Variable factory overhead
per direct-labour hour$
$
14
Standard direct-labour hours1,0006,000
Flexible-budget variance$
10,000F$ 20,000U
Production-volume variance$
6,000U$
8,000F
The total overhead variance in Case Y was 58) ______ A) $28,000 favourable. B) $28,000 unfavourable. C) $12,000 unfavourable. D) $242,000 unfavourable. E) $218,000 favourable.
59) For the fixed overhead cost of a monthly rental payment for a leased factory building, and a variable overhead cost of energy costs and indirect labour, which of the following is TRUE, assuming that all activity levels are within the relevant range? 59) ______ A) Variable OVH costs will increase as production increases, but Fixed OVH costs will decrease. B) Variable OVH costs will decrease as production increases, but Fixed OVH costs will increase. C) Variable OVH costs will increase as production increases, and Fixed OVH costs will increase. D) Both will increase with production, but at different rates E) Variable OVH costs will increase as production increases, but Fixed OVH costs will remain constant.
60) Foxmore, Inc. used $250,000 in manufacturing overhead costs ($66,500 was variable) during October 20×1. Budgeted manufacturing overhead was $229,500, of which $75,000 was variable. Which of the following entries for manufacturing overhead could have been recorded? 60) ______ A) Variable Manufacturing Overhead Control$66,500
Accounts Payable and other accounts$66,500 B) Variable Manufacturing Overhead Allocated $75,000
Accounts Payable and other accounts$75,000 C) Work in Process Control$66,500
Accounts Payable and other accounts$66,500 D) Accounts Receivable$75,000
Work in Process Control$75,000 E) Work in Process Control$66,500
Variable Manufacturing Overhead Control$66,500
