Question
1. The direct materials price variance is a.$3,514 favorable b.$3,514 unfavorable c.$8,785 favorable d.$8,785 unfavorable 2. Flapjack Corporation had 7,881 actual direct labor hours at
1.
The direct materials price variance is
a.$3,514 favorable b.$3,514 unfavorable c.$8,785 favorable d.$8,785 unfavorable
2.
Flapjack Corporation had 7,881 actual direct labor hours at an actual rate of $12.30 per hour. Original production had been budgeted for 1,100 units, but only 979 units were actually produced. Labor standards were 7.9 hours per completed unit at a standard rate of $12.85 per hour.
The direct labor rate variance is
a.$4,334.55 unfavorable
b.$4,334.55 favorable
c.$1,573.16 unfavorable
d.$1,573.16 favorable
3.
Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,650 pounds of material at $5.40 and standard costs for 4,460 pounds of material at $6.00 per pound.
The direct materials quantity variance is
a.$2,790 unfavorable
b.$2,790 favorable
c.$1,140 favorable
d.$1,140 unfavorable
4.
The following data relate to direct materials costs for February: Materials cost per yard: standard, $1.97; actual, $2.05 Yards per unit: standard, 4.60 yards; actual, 5.26 yards Units of production: 9,500 The direct materials quantity variance is
a.$12,853.50 favorable
b.$12,853.50 unfavorable
c.$12,351.90 unfavorable
d.$12,351.90 favorable
5.
Dove Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are $231,000, $319,000, and $413,000, respectively, for September, October, and November. The company expects to sell 25% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month of the sale and 30% in the month following the sale.
The cash collections expected in October are
a.$288,640
b.$299,200
c.$271,040
d.$224,840
The following data are given for Stringer Company: Budgeted production 903 units Actual production 1,053 units Materials: Standard price per ounce $1.78 Standard ounces per completed unit 12 Actual ounces purchased and used in production 13,015 Actual price paid for materials $26,681 Labor: Standard hourly labor rate $14.48 per hour Standard hours allowed per completed unit 4.9 Actual labor hours worked 5,422.95 Actual total labor costs $82,700 Overhead: Actual and budgeted fixed overhead $1,034,000 Standard variable overhead rate $25.00 per standard labor hour Actual variable overhead costs $151,843 Overhead is applied on standard labor hours. Do not round interim calculations. Round your final answer to the nearest dollarStep by Step Solution
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