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1. Last month 75,000 pounds of direct material were purchased and 71,000 pounds were used. If the actual purchase price per pound was $0.50 more
1. Last month 75,000 pounds of direct material were purchased and 71,000 pounds were used. If the actual purchase price per pound was $0.50 more than the standard purchase price per pound, then the materials price variance was: A. $2,000 F B. $37,500 F C. $37,500 U D. $35,500U 2. Schuetz Corporation makes a product whose variable overhead standards are based on direct labor-hours. The quantity standard is 0.4 hours per unit. The variable overhead rate standard is $5.00 per hour. In July the company produced 7,500 units using 2,740 direct labor-hours. The actual variable overhead rate was $5.20 per hour. The variable overhead rate variance for July is: A. $600 F B. $600 U C. $548 F D. $548 U 3. Kornfeld Corporation produces metal telephone poles. In the most recent month, the company budgeted production of 2,800 poles. Actual production was 3,200 poles. According to standards, each pole requires 2.2 machine-hours. The actual machine-hours for the month were 6,890 machine-hours. The standard variable manufacturing overhead rate is $9.20 per machine-hour. The actual variable manufacturing cost for the month was $67,020. The variable overhead efficiency variance is: A. $1,380 U B. $1,380 F C. $2,252 F D. $2,252 U 4.. Borden Enterprises uses standard costing. For the month of April, the company reported the following data
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