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

 

 

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