1) Barb Bubbletop (BB) produces bangles. Each bangle requires 0.25 pounds of bronze which should cost $16 per pound. In August, BB purchased 12,000 pounds of bronze at $15 per pound. In the month, 41,000 bangles were made, and 11,000 pounds of bronze were used. Which is false of BB's materials variances?

A. The company should have spent $164,000 on materials

B. Bronze inventory increased by $15,000

C. Materials quantity variance is $18,000 unfavorable

D. Materials price variance is $12,000 unfavorable

E. All of the above are false

2) Fegox Firinghi (FF) produces flip flops. Each flip-flop requires 2 pounds of Flub and 1 pound of Fleeb, which are planned to cost $8 and $3 per pound, respectively. During the month of May, FF purchased 22,000 pounds of Flub for $179,900 and 13,000 pounds of Fleeb for $42,000. All materials were consumed in producing 10,500 good flip flops.Which is true?

A. Direct materials price variances total $21,000 unfavorable

B. Direct materials price variances total $6,950 unfavorable

C. The standard price of Flub should be revised

D. The standard price of Flub should not be revised

E. a) and c) only

3) Ultimate U-bolts (UU) paid $161,175 for direct labor this month, paying $1.50 cents less per hour than planned. Fifty-four thousand pounds of bolts were produced and direct labor was paid for 9,210 hours. Producing one pound takes ten minutes. Which is true?

A. The direct labor wage variance is $4,605 unfavorable

B. The direct labor wage variance is $4,605 favorable

C. The direct labor wage variance is $4,500 favorable

D. The total labor variance is $17,805 favorable

E. None of the choices are correct