65.Georgia, Inc. has collected the following data on one of its products. The direct materials price variance is:
Direct materials standard (4 lbs. @ $1/lb.)$4 per finished unit
Total direct materials cost variance—unfavorable$13,750
Actual direct materials used150,000 lbs.
Actual finished units produced30,000 units
A.$13,750 unfavorable.
B.$16,250 unfavorable.
C.$16,250 favorable.
D.$30,000 unfavorable.
E.$33,000 favorable.
66.Parallel Enterprises has collected the following data on one of its products. During the period the company produced 25,000 units. The direct materials price variance is:
Direct materials standard (7 kg. @ $2/kg)$14 per finished unit
Actual cost of materials purchased$322,500
Actual direct materials purchased and used150,000 lbs.
A.$27,500 unfavorable.
B.$50,000 unfavorable.
C.$50,000 favorable.
D.$22,500 unfavorable.
E.$22,500 favorable.
67.Parallel Enterprises has collected the following data on one of its products. During the period the company produced 25,000 units. The direct materials quantity variance is:
Direct materials standard (7 kg. @ $2/kg)$14 per finished unit
Actual cost of materials purchased$322,500
Actual direct materials purchased and used150,000 kg
A.$27,500 unfavorable.
B.$50,000 unfavorable.
C.$50,000 favorable.
D.$22,500 unfavorable.
E.$22,500 favorable.
68.Hassock Corp. produces woven wall hangings. It takes 2 hours of direct labor to produce a single wall hanging. Bartels’ standard labor cost is $12 per hour. During August, Bartels produced 10,000 units and used 21,040 hours of direct labor at a total cost of $250,376. What is Bartels’ labor rate variance for August?
A.$2,000 favorable.
B.$2,104 unfavorable.
C.$2,104 favorable.
D.$4,160 favorable.
E.$2,000 unfavorable.
69.Hassock Corp. produces woven wall hangings. It takes 2 hours of direct labor to produce a single wall hanging. Bartels’ standard labor cost is $12 per hour. During August, Bartels produced 10,000 units and used 21,040 hours of direct labor at a total cost of $250,376. What is Bartels’ labor efficiency variance for August?
A.$12,480 favorable.
B.$10,376 unfavorable.
C.$14,584 unfavorable.
D.$4,160 favorable.
E.$12,480 unfavorable.
70.Use the following data to find the total direct labor cost variance if the company produced 3,500 units during the period.
Direct labor standard (4 hrs. @ $7/hr.)$28per unit
Actual hours worked12,250
Actual rate per hour$7.50
A.$6,125 unfavorable.
B.$7,000 unfavorable.
C.$7,000 favorable.
D.$12,250 favorable.
E.$6,125 favorable.
71.Use the following data to find the direct labor rate variance if the company produced 3,500 units during the period.
Direct labor standard (4 hrs. @ $7/hr.)$28per unit
Actual hours worked12,250
Actual rate per hour$7.50
A.$6,125 unfavorable.
B.$7,000 unfavorable.
C.$7,000 favorable.
D.$12,250 favorable.
E.$6,125 favorable.
72.Use the following data to find the direct labor efficiency variance if the company produced 3,500 units during the period.
Direct labor standard (4 hrs. @ $7/hr.)$28per unit
Actual hours worked12,250
Actual rate per hour$7.50
A.$6,125 unfavorable.
B.$7,000 unfavorable.
C.$7,000 favorable.
D.$12,250 favorable.
E.$6,125 favorable.
73.Use the following data to find the direct labor rate variance if the company produced 7,000 units of product during the period.
Standard:
Direct labor (3.2 hrs. per unit @ $7/hr.)$22.40per unit
Actual cost incurred:
Direct labor (24,500 hrs. @ $7.50/hr.)$183,750
A.$12,250 unfavorable.
B.$14,700 unfavorable.
C.$14,700 favorable.
D.$12,250 favorable.
E.$26,950 favorable.
74.The following company information is available for March. The direct materials price variance is:
Direct materials purchased and used2,500 feet @ $55 per foot
Standard costs for direct materials for March production2,600 feet @ $53 per foot
A.$5,000 favorable.
B.$300 favorable.
C.$5,200 unfavorable.
D.$5,000 unfavorable.
E.$5,200 favorable.
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