1. Schuh Corporation manufactures product AB1 which requires a raw material called XZ2. In order to make one unit of AB1, 2.5 kgs of raw materials are used. Budgeted production of AB1 for the first 5 months are as follows : January.......... 28,000 units February ....27,500 units March............28,000 units April.......... ..29,500 units May.......... ...27,000 units The company wants to maintain an ending inventory equal to 30% of the following months raw material needs for production. Raw material costs $10 per unit. Schuh Corporation now wants to make a Direct Material Budget. What should be the dollar value of the ending inventory for the month of February, on the direct material budget? $21,000 O $210,000 $84,000 $8400 $82,500 None of the above. 1 point 2. Use information from Question No. 1 to calculate budgeted beginning inventory (in units) for the month of April, on the direct material budget. Choose the correct answer. 8,100 units 20,250 units 22,125 units 73,750 units O 8,850 units 3 points 3. The standards for product M66 needs 2.8 kilograms of a raw material that costs $13.50 per pound. Last month, 3,700 pounds of the raw material were purchased for $51,820. A total of 1150 units of the finished goods M66 were manufactured during the current month.. A total of 2,990 kilograms of the raw material were used to produce the finished goods. Calculate the value of Material Price Variance for the month. Show calculations clearly. [No need write the formula). Your answer 5. 1 point 5. The following labor standards have been established for a particular product: Standard labor-hours per unit of output.... 2.2 hours Standard labor rate.......... ..... $13.75 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked...... 4,400 hours Actual total labor cost..... $60,940 Actual output ........... 2,200 units What is the labour rate variance for the month? $ 6050 F $6050 U $440 F $440 U None of the above. 7. The following related to standards for variable manufacturing overhead Standard hours per unit of output ....... 7.2 hours Standard variable overhead rate.......$21.50 per hour The following information relates to current month's operation. Actual hours......... 9,100 hours Actual total variable MOH cost ...... $137,250 Actual output.............1,300 output What is the variable MOH efficiency variance for the month? $5590 F $5590 U $195495 U $195495 F $58240 F $58240 U