1. The standard for direct labor for product B is two hours at $20 per hour. If a firm produces 200 units of product B and uses 410 hours at $18 per hour, the direct labor efficiency variance is

Select one:

a. $200 unfavorable

b. $200 favorable

c. $400 unfavorable

d. $400 favorable

2.The difference between the actual overhead cost and the flexible budget level of overhead for actual production is called

Select one:

a. Overhead volume variance

b. Controllable overhead variance

c. Budget variance

d. None of the above

3.The overhead variance between the actual production and the anticipated production is

Select one:

a. The overhead volume variance

b. The controllable overhead variance

c. The flexible budget variance

d. None of the above

4.If the standard for direct materials is 5 ft. at $10 per square foot for each unit produced what is the direct materials price variance if 100 units are produced, 510 ft. are used and $9 per square foot is paid?

Select one:

a. 510 favorable

b. $510 unfavorable

c. $100 unfavorable

d. $100 favorable

5.Standards may be viewed by labor as too loose. T/F

6.The standard for direct materials for product A is 6 ft. at $10 per square foot. If a firm produces 100 units of product A and uses 600 ft. at $11 per square foot, the materials quantity variance is

Select one:

a. $660 unfavorable

b. $660 favorable

c. 0

d. None of the above

7.The standard for direct materials for product A is 6 ft. at $10 per square foot. If a firm produces 100 units of product A and uses 600 ft. at $11 per square foot, the materials price variance is

Select one:

a. $660 unfavorable

b. $660 favorable

c. $600 unfavorable

d. $600 favorable

8.To calculate the overhead volume variance actual overhead costs are required. T/F

9.To calculate the controllable overhead variance actual overhead costs are needed. T/F

10.Overhead volume variance is a production indicator. T/F