Assume that a company uses a standard cost system and applies overhead to production based on direct labor-hours. It provided the following excerpt from the standard cost card of its only product:

	Standard Hours		Standard Rate			Standard Cost
Fixed manufacturing overhead	2	hours	$	6.00	per hour	$	12.00

During the most recent period, the following additional information was available:

• The total actual fixed overhead cost was $275,000.
• The budgeted amount of fixed overhead cost was $285,000.
• 46,000 direct labor-hours were actually used to produce 24,070 units.

What is the standard hours allowed for the actual output?

Assume that a company uses a standard cost system and applies overhead to production based on direct labor-hours. It provided the following information for its most recent year:

Total budgeted fixed overhead cost for the year	$	309,000
Actual fixed overhead cost for the year	$	276,000
Budgeted direct labor-hours		60,000
Actual direct labor-hours		56,000
Standard direct labor-hours allowed for the actual output		58,000

The fixed portion of the predetermined overhead rate is closest to:

Assume the following:

• The standard price per pound is $2.10.
• The standard quantity of pounds allowed per unit of finished goods is 4 pounds.
• The actual quantity of materials purchased and used in production is 50,300 pounds.
• The actual purchase price per pound of materials was $2.25.
• The company actually produced 13,000 units of finished goods during the period; however, its planning budget was based on 12,800 units.

What is the materials quantity variance?