11 The principle ofexceptions allows managers to focus on correcting variancesbetween standard costs and actual costs variable costs and actual costs competitors costs and actual costs competitors costs and standard costs 12 Myers Corporationhas the following data related to direct materials costs forNovember actual costs for 5,000 pounds of material at $4 50 andstandard costs for 4,800 pounds of material at $5 10 per pound What is the directmaterials quantity variance a $1,020favorable b $1,020unfavorable c $900 favorable d $900unfavorable 13 The standardcosts and actual costs for direct labor in the manufacture of 2,500units of product are as follows StandardCosts Direct labor 7,500 hours $11 80 ActualCosts Direct labor 7,400 hours $11 40 The direct labor timevariance is a $1,180favorable b $1,140unfavorable c $1,180 unfavorable d $1,140 favorable The following datarelate to direct materials costs for February Materials cost peryard standard, $2 00 actual, $2 10 Standard yards perunit standard, 4 5 yards actual, 4 75 yards Units of production 9,500 14 Calculate thetotal direct materials cost variance a $9,262 50unfavorable b $9,262 50favorable c $3,780 00unfavorable d $3,562 50favorable 15 The formula tocompute the direct materials price variance is to calculate thedifference between a Actual costs (Actual quantity Standard price) b Actual cost Standard costs c Actual cost Standard costs d (Actual quantity Standard price) Standard costs

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11. The principle ofexceptions allows managers to focus on correcting variancesbetween standard costs and actual costs variable costs and actual costs competitors costs and actual

11. The principle ofexceptions allows managers to focus on correcting variancesbetween

standard costs and actual costs
variable costs and actual costs
competitor’s costs and actual costs
competitor’s costs and standard costs

12. Myers Corporationhas the following data related to direct materials costs forNovember: actual costs for 5,000 pounds of material at $4.50? andstandard costs for 4,800 pounds of material at $5.10 per pound.

What is the directmaterials quantity variance?

a.$1,020favorable

b.$1,020unfavorable

c. $900 favorable

d.$900unfavorable

13. The standardcosts and actual costs for direct labor in the manufacture of 2,500units of product are as follows:

StandardCosts
Direct labor	7,500 hours @ $11.80

ActualCosts
Direct labor	7,400 hours @ $11.40

The direct labor timevariance is

a. $1,180favorable

b. $1,140unfavorable

c.$1,180 unfavorable

d.$1,140 favorable

The following datarelate to direct materials costs for February:

Materials cost peryard: standard, $2.00? actual, $2.10

Standard yards perunit: standard, 4.5 yards; actual, 4.75 yards

Units of production:9,500

14. Calculate thetotal direct materials cost variance.

a. $9,262.50unfavorable

b. $9,262.50favorable

c. $3,780.00unfavorable

d. $3,562.50favorable

15. The formula tocompute the direct materials price variance is to calculate thedifference between

a. Actual costs –(Actual quantity × Standard price)

b. Actual cost +Standard costs

c. Actual cost –Standard costs

d. (Actual quantity ×Standard price) – Standard costs

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QUESTION 11 The principle of exceptions allows managers to focus on correcting variances between A Standard costs and actual costs Variance analysis i... blur-text-image