Question
26. Assume the following information appears in the standard cost card for a company that makes only one product: Standard Quantity or hours Standard Price
26.
Assume the following information appears in the standard cost card for a company that makes only one product:
Standard Quantity or hours | Standard Price or Rate | Standard Cost | ||||||
Direct materials | 5 | pounds | $ | 11.70 | per pound | $ | 58.50 | |
Direct labor | 2 | hours | $ | 17.00 | per hour | $ | 34.00 | |
Variable manufacturing overhead | 2 | hours | $ | 3.00 | per hour | $ | 6.00 | |
During the most recent period, the following additional information was available:
- 20,000 pounds of material was purchased at a cost of $10.50 per pound.
- All of the material that was purchased was used to produce 3,900 units.
- 8,000 direct labor-hours were recorded at a total cost of $132,000.
What is the direct materials spending variance?
Multiple Choice
-
$18,150 U
-
$5,850 U
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$18,150 F
-
$5,850 F
27.
Assume that a company provided the following excerpts of information from its flexible budget performance report:
Actual Results | Flexible Budget | Planning Budget | |||||||||
Flights (q) | 55 | ? | 50 | ||||||||
Revenue ($250.00q) | $ | 11,550 | $ | ? | $ | ? | |||||
What amount of revenue would appear in the companys flexible budget?
rev: 06_25_2020_QC_CS-208650
Multiple Choice
-
$13,050
-
$13,750
-
$13,150
-
$12,500
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