All urban company produces a product requiring 4 pounds of

Reference no: EM13485883

1. All Urban Company produces a product requiring 4 pounds of material costing $3 per pound. During December, All Urban purchased 4,200 pounds of material for $11,970 and used the material to produce 500 products. What was the materials price variance for December?

$630 F
$480 F
$120 U
$600 U

2. Dillon has a standard of 1.5 pounds of materials per unit, at $2 per pound. In producing 2,000 units, Dillon used 3,100 pounds of materials at a total cost of $6,045. Dillon's materials price variance is

$350 F.
$45 U.
$155 F.
- 200 F

3. Dillon has a standard of 2 hours of labor per unit, at $18 per hour. In producing 2,000 units, Dillon used 3,850 hours of labor at a total cost of $70,455. Dillon's labor quantity variance is

$2,895 F.
$1,155 U.
$1,555 F.
$2,700 F.

4. The predetermined overhead rate for Zane Production Company is $10, comprised of a variable overhead rate of $6 and a fixed rate of $4. The amount of budgeted overhead costs at normal capacity of $300,000 was divided by normal capacity of 30,000 direct labor hours, to arrive at the predetermined overhead rate of $10. Actual overhead for June was $17,800 variable and $10,800 fixed, and 1,500 units were produced. The direct labor standard is 2 hours per unit produced. The total overhead variance is

$1,400 U.
$3,600 U.
$3,600 F.
$1,400 F.

5. Budgeted overhead for Cinnabar Industries at normal capacity of 30,000 direct labor hours is $4.50 per hour variable and $3 per hour fixed. In May, $232,500 of overhead was incurred in working 31,500 hours when 32,000 standard hours were allowed. The overhead controllable variance is

$3,750 favorable.
$7,500 favorable.
$7,500 unfavorable.
$1,500 favorable.

6. Budgeted overhead for Cinnabar Industries at normal capacity of 30,000 direct labor hours is $4.50 per hour variable and $3 per hour fixed. In May, $232,500 of overhead was incurred in working 31,500 hours when 32,000 standard hours were allowed. The overhead volume variance is

$6,000 favorable.
$8,250 favorable.
$3,750 favorable.
$7,500 favorable.

Reference no: EM13485883

Questions Cloud

Acoupon rate of 6 has a par or face value of 20000 : a bond with 5 years to maturity and a coupon rate of 6 has a par or face value of 20000. interest is paid annually.

A cash flow statement can be used to answer a variety of : a cash flow statement can be used to answer a variety of questions. which of the following would this statement not be

Find the expected dividend for each of the next 3 years : your broker offers to sell you some shares of bahnsen amp co. common stock that paid a dividend of 2.00 yesterday.

Explain the rationale behind that statement as it relates : it is said that ratio analysis doesnt give answers it helps you ask the right questions. explain the rationale behind

All urban company produces a product requiring 4 pounds of : 1. all urban company produces a product requiring 4 pounds of material costing 3 per pound. during december all urban

Preferred stock is said to be a hybrid security having : preferred stock is said to be a hybrid security having similarities to both common stock and bonds. explain the

Thompson inc has return on equity roe 17 percent and an : thompson inc. has return on equity roe 17 percent and an equity multiplier 2.3. compute thompsons return on assets

Determine the amount of money in a savings account at the : determine the amount of money in a savings account at the end of five years given an initial deposit of 3000 and an 8

Prepare a sales journal entry based on the information : prepare a cash receipts journal based on the information given below and post it to the accounts receivable subsidiary

User Account

All Pages