Question
All 4 please as they are parts under 1 question number. Thank you in advance! Which manager is usually held responsible for material price variances?
All 4 please as they are parts under 1 question number. Thank you in advance!
Which manager is usually held responsible for material price variances?
a. Production manager.
b. Marketing manager.
c. Sales manager.
d. Purchasing manager.
Which of the following variances would least likely be linked to the decision to purchase lower cost, lower quality material?
a. A favorable materials price variance.
b. An unfavorable materials quantity variance.
c. An unfavorable labor quantity variance.
d. An unfavorable labor price variance.
Which of the following is the most-likely reason for an unfavorable material quantity variance?
a. Suppliers of materials increased their prices during the period.
b. Suppliers of materials decreased their prices during the period.
c. Management lowered the standard quantity of materials per unit of output.
d. The number of units produced was greater than expected.
e. None of the above could explain an unfavorable materials quantity variance.
If the labor efficiency (quantity) variance is unfavorable, then:
a. Actual labor hours exceeded standard labor hours allowed for the actual output
b. Standard hours allowed for the actual output exceeded actual hours.
c. The standard labor rate exceeded the actual labor rate.
d. The actual labor rate exceeded the standard labor rate.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started