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Exam 9: Flexible Budgets Standard Costs and Variance Analysis

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Question 81

Multiple Choice

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The spending variance for laundry costs for the month is:

A) $5,080 F
B) $5,080 U
C) $5,800 U
D) $5,800 F

E) B) and D)
F) All of the above

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Question 82

Multiple Choice

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The labor efficiency variance for March is:

A) $3,040 U
B) $3,685 U
C) $3,685 F
D) $3,040 F

E) All of the above
F) B) and C)

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Question 83

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If variable manufacturing overhead is applied based on direct labor-hours, it is impossible to have a favorable labor rate variance and unfavorable variable overhead rate variance for the same period.

The labor efficiency variance for July is:

What is ChocO's variable overhead efficiency variance?

The total standard cost per unit is closest to:

The materials quantity variance for September is:

The total variable cost at the activity level of 9,300 patient-visits per month should be:

The spending variance for "Employee salaries and wages" for March would have been closest to:

The total fixed cost at the activity level of 5,500 guest-days per month should be:

The materials price variance for July is:

The occupancy expenses in the flexible budget for September would be closest to:

Krizun Industries makes heavy construction equipment.The standard for a particular crane calls for 20 direct labor-hours at $24 per direct labor-hour.During a recent period 875 cranes were made.The labor efficiency variance was $1,200 Unfavorable.How many actual direct labor-hours were worked?

Warp Manufacturing Corporation uses a standard cost system for the production of its ski lift chairs.Warp uses machine-hours as an overhead base.The variable manufacturing overhead standards for each chair are 1.2 machine-hours at a standard cost of $18 per hour. During the month of September, Warp incurred 34,000 machine-hours in the production of 32,000 ski lift chairs.The total variable manufacturing overhead cost was $649,400.What is Warp's variable overhead rate variance for September?

When more hours of labor time are necessary to complete a job than the standard allows, the labor efficiency variance is unfavorable.

The amount shown for revenue in the planning budget for March would have been closest to:

Pittman Framing's cost formula for its supplies cost is $1,150 per month plus $11 per frame.For the month of November, the company planned for activity of 789 frames, but the actual level of activity was 792 frames.The actual supplies cost for the month was $9,480.The spending variance for supplies cost in November would be closest to:

The labor efficiency variance for July is:

The following standards for variable manufacturing overhead have been established for a company that makes only one product: The following data pertain to operations for the last month: What is the variable overhead efficiency variance for the month?

The labor efficiency variance for May is: