Assignation individual t5ai 4 variance analysis1tooltime

Assignment Help Managerial Accounting
Reference no: EM13371623

Assignation Individual (T5)

AI 4 (Variance Analysis)

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

a.  $150 F              b. $200 U                    c. $155 U                    d. $45 U

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

a.  $155 F              b. $45 U                      c. $200 F                     d. $350 F

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

a.  $45 F                b. $155 U                    c. $350 U                    d. $200 U

4. ToolTime has a standard of 2 hours of labor per unit, at $18 per hour. In producing 2,000 units, ToolTime used 3,850 hours of labor at a total cost of $70,445. ToolTime's total labor variance is

a. $1,555 F          b. $1,200 U                 c. $1,155 U                 d. $2,895 F

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

a.  $2,895 F                       b. $1,200 U                 c. $1,555 F                  d. $1,155 U

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

a.  $1,155 U           b. $1,555 F                  c. $2,895 F                  d. $2,700 F

7. The predetermined overhead rate for Weed-B-Gone 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 $19,000 variable and $12,100 fixed, and standard hours allowed for the product produced in June was 3,000 hours. The total overhead variance is

a.  $1,100 U           b. $1,100 F                  c. $6,100 F                  d. $6,100 U

8.  The predetermined overhead rate for Weed-B-Gone 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

a.  $3,600 F                       b. $1,400 U                 c. $1,400 F                  d. $3,600 U

9. Sonic Corporation's variance report for the purchasing department reports 500 units of material A purchased and 1,200 units of material B purchased. It also reports standard prices of $2 for Material A and $3 for Material B. Actual prices reported are $2.10 for Material A and $2.80 for Material B. Sonic should report a total price variance of

a.  $190 U              b. $20 F                       c. $20 U                      d. $190 F

10. The following information was taken from the annual manufacturing overhead cost budget of Coen Company.

                        Variable manufacturing overhead costs                     $69,300

                        Fixed manufacturing overhead costs                         $41,580

                        Normal production level in labor hours                       23,100

                        Normal production level in units                                   5,775

                        Standard labor hours per unit                                               4

During the year, 5,600 units were produced, 18,340 hours were worked, and the actual manufacturing overhead was $113,400. Actual fixed manufacturing overhead costs equaled budgeted fixed manufacturing overhead costs. Overhead is applied on the basis of direct labor hours. Coen's total overhead variance is

a.       $1,260 U.          b.   $4,620 U.            c. $16,800 U.                      d. $5,880 U.

Reference no: EM13371623

Questions Cloud

The fourier transform is a powerful tool for converting : the fourier transform is a powerful tool for converting time-series data into its frequency components for the purpose
Task 1 fill out surveyplease take the 122223 survey at : task 1 fill out surveyplease take the 122223 survey at survey.osble.orgindex.php?sid97282. please treat the question
Bt co a beverage manufacturer manufactures one product - : bt co a beverage manufacturer manufactures one product - trublood. bt accounts for its finished goods inventory using
Select any 8 articles of business management services amp : select any 8 articles of business management services amp operation management and risk management. selection of
Assignation individual t5ai 4 variance analysis1tooltime : assignation individual t5ai 4 variance analysis1.tooltime has a standard of 1.5 pounds of materials per unit at 2 per
Assignation individual ai 3 master and flexible budget1 : assignation individual ai 3 master and flexible budget1. orange company is planning to sell 200 buckets and produce 190
Asignacioacuten individual t3ai 2 relevant costratios : asignacioacuten individual t3ai 2 relevant costratios analysis1. the current ratio for a company with current assets of
Asignacioacuten individual t2ai 1 cvpbep1 fixed costs are : asignacioacuten individual t2ai 1 cvpbep1. fixed costs are 1500000 and the contribution margin per unit is 150. what is
Think of a famous person like an athlete an actor : think of a famous person like an athlete an actor politician or talk show hosts. write two paragraphs one to convince

Reviews

Write a Review

 

Managerial Accounting Questions & Answers

  Should the brinkers accept this offer right away

Should the Brinkers accept this offer right away? What quantitative factors and what operational, qualitative or strategic factors should Five-speed and Wilbur take into account in making this decision?

  Prepare journal entries to record the events

Prepare journal entries to record the events and transactions that took place during the year - the college directed an additional $75,000 of donor contributions to the loan fund.

  Trumbull value of debt and yield

Gomez computer systems has an EBIT of $200,000, a growth rate of 6%, and its tax rate is 40%. In order to support growth, Gomez must reinvest 20% of its EBIT in net operating assets. Gomez has $300,000 in 8% debt outstanding, and a similar company..

  Determining operating income

GHI Company makes light-weight canoes for campers. The president, George Ingalls, enlists your help in predicting the effects of some changes he is contemplating. He gives you the following information:

  Nbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbsp nbsp

nbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbsp nbsp nbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbsp comprehensive

  Functions of the financial and managerial accountants

Illustrate out the functions of the financial and managerial accountants and describe how their reports are employed by companies.

  Dominant managerial approach in the united states

New Public Management is becoming the dominant managerial approach in the United States. As a Council member, I certainly saw a movement towards NPM in some administrative areas of the city, but in others the more traditional approach remained.

  Old guard-materials budget-reason for ending inventory

Each gallon of Old Guard, a popular aftershave lotion, requires 3 ounces of ocean scent. Budgeted production of Old Guard for the first three quarters of 2013 is:

  Determining fixed cost and variable cost

What is the cost per broadcast hour during July and September for each of these cost items? What is the total incurred for each of these costs during December if the TV stations activity is 420 braodcast hours?

  Prepare the companys cash budget

Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded and prepare the company's cash budget for the upcoming fiscal year.

  Transfer pricing-general guideline-goal congruence

Using the general guideline presented in the chapter, what is the minimum price at which the Airbag Division would sell airbags to the Igo Division?

  Find an article on accountants committing fraud in ais

Find an article on accountants committing fraud in AIS. Articles should address current technologies and/or emerging trends

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd