1. Jefferson Co. uses the following standard to produce a single unit of its product: variable overhead $4.60 (2 hrs. per unit @ $2.30/hr.). Actual data for the month show variable overhead costs of $112,480, and 23,300 units produced. The total variable overhead variance is A. $5,300 F B. $5,300 U C. $58,890 U D. $58,890 F E. $0

2. Kragle Corporation reported the following financial data for one of its divisions for the year; average invested assets of $490,000; sales of $990,000; and income of $113,000. The investment turnover is A. 21.30 B. 49.50 C. 2.02 D. 433.60 E. 11.40

3. Fletcher Company collected the following data regarding production of one of its products. Compute the direct labor rate variance

Direct labor standard (2 hrs. @ $12.75/hr.) $25.50 per finished unit

Actual direct labor hours 92,900 hrs.

Actual finished units produced 46,000 units

Actual cost of direct labor $1,253,550

A. $80,550 unfavorable B. $80,550 favorable C. $69,075 favorable D. $69,075 unfavorable E. $11,475 unfavorable