Question :
68. The standard cost for direct material $45,000 if the : 1369983
68. The standard cost for direct material is $45,000 if the company produces 10,000 units of product. Actual direct materials used to produce 10,500 units of product amounted to $48,300. What is the standard cost for the direct material at the actual level of production.
A)$45,000
B)$46,000
C)$47,250
D)$48,300
69. The standard cost for facility sustaining manufacturing overhead is $536,000 if the company produces 78,000 units of product. Actual facility sustaining manufacturing overhead to produce 79,500 units of product was $531,500. What is the standard cost of sustaining manufacturing overhead at the actual level of production?
A)$521,472
B)$531,500
C)$536,000
D)$546,308
70. The direct labor price variance is calculated as:
A)(Actual Price – Standard Price) x Actual Quantity
B)(Standard Price – Actual Price) x Standard Quantity Allowed
C)(Standard Quantity Allowed – Actual Quantity) x Actual Price
D)(Actual Quantity – Standard Quantity Allowed) x Standard Price
71. The direct labor usage variance is calculated as:
A)(Standard Price – Actual Price) x Actual Quantity
B)(Actual Price – Standard Price) x Standard Quantity Allowed
C)(Standard Quantity Allowed – Actual Quantity) x Actual Price
D)(Actual Quantity – Standard Quantity Allowed) x Standard Price
72. The direct materials price variance is calculated as:
A)(Standard Price – Actual Price) x Standard Quantity Allowed
B)(Actual Price – Standard Price) x Actual Quantity Purchased
C)(Standard Quantity Allowed – Actual Quantity Purchased) x Actual Price
D)(Actual Quantity Purchased – Standard Quantity Allowed) x Standard Price
73. The direct materials usage variance is calculated as:
A)(Standard Price – Actual Price) x Actual Quantity Used
B)(Actual Price – Standard Price) x Standard Quantity Allowed
C)(Standard Quantity Allowed – Actual Quantity Used) x Actual Price
D)(Actual Quantity Used – Standard Quantity Allowed) x Standard Price
74. The direct materials inventory variance is calculated as:
A)(Actual Price – Standard Price) x Actual Quantity Used
B)(Standard Price – Actual Price) x Standard Quantity Allowed
C)(Actual Quantity Used – Actual Quantity Purchased) x Actual Price
D)(Actual Quantity Purchased – Actual Quantity Used) x Standard Price
Use the following to answer questions 75-76:
BAK Systems, Inc. gathered the following direct labor cost information for the month of July:
Actual direct labor hours
68,500
Standard direct labor hours allowed
for actual production
67,200
Actual direct labor rate per hour
$12.10
Standard direct labor rate per hour
$11.75
75. The direct labor price variance is:
A)$15,730U
B)$23,975U
C)$15,275F
D)$23,520F
76. The direct labor usage variance is:
A)$15,275U
B)$23,975U
C)$15,730F
D)$23,520F
Use the following to answer questions 77-81:
Hurricane, Inc. manufactures hurricane lamps. Selected data regarding standard costs follow:
Direct materials per unit
3.5 pounds at $5.00 per pound
Direct labor per unit
3 hours at $9.50 per hour
Unit-related overhead
$2.75 per machine hour;
2.5 machine hours required per unit
Selected actual results for the month of August are shown below:
Units produced
5,500
Machine hours used
11,700
Direct materials purchased
20,000 pounds at a total cost of
$104,000
Direct materials used
19,400 pounds
Direct labor used
16,800 hours at a total cost of
$163,800
Unit-related overhead
$39,500
77. The direct labor price variance is:
A)$2,850U
B)$2,925F
C)$4,125F
D)$4,200U
