At the beginning of the year, you estimated the following -

Production - 75,000 units

Raw Material - 270,000 pounds at a cost of $1,026,000

Direct Labor - 187,500 hours at a cost of $4,125,000

Variable Overhead - 135,000 machine hours at a cost of $567,000

Fixed Overhead - $900,000

At the end of year, the actual results were as follows -

Production - 73,000 units

Raw Material - 265,720 pounds purchased and used at a cost of $1,036,308

Direct Labor - 179,580 hours at a cost of $3,968,718

Variable Overhead - 133,590 machine hours at a cost of $558,406.20

Fixed Overhead - $891,000

1) What is the raw material standard for the amount of pounds per unit ?

2) What is the standard price per pound of raw material ?

3) What is the Raw Material Efficiency Variance ?

4) The Raw Material Variance is Favorable.

Group of answer choices

True

False

5) What is the Raw Material Price Variance ?

6) The Raw Material Price Variance is Favorable.

Group of answer choices

True

False

7) What is the Total Variance for Raw Material ?

8) The Total Variance for Raw Material is Favorable.

Group of answer choices

True

False

9) What is the Direct Labor standard for hours per unit?

10) What is the standard price per Direct Labor hour ?

11) What is the Direct Labor Efficiency Variance?

12) The Direct Labor Efficiency Variance is Favorable.

Group of answer choices

True

False

13) What is the Direct Labor Rate Variance?

14) The Direct Labor Rate Variance is Favorable.

Group of answer choices

True

False

15) What is the Total Variance for Direct Labor ?

16) The Total Variance for Direct Labor is Favorable.

Group of answer choices

True

False

17) What is the Variable Overhead standard for machine hours per unit ?

18) What is the standard rate per machine hour for Variable Overhead ?

19) What is the Efficiency Variance for Variable Overhead ?

20) The Variable Overhead Efficiency Variance is Favorable.

Group of answer choices

True

False

22) The Variable Overhead Rate Variance is Favorable.

Group of answer choices

True

False

23) What is the Total Variance for Variable Overhead ?

24) The Total Variance for Variable Overhead is Favorable.

Group of answer choices

True

False

25) What is the standard for Fixed Overhead per unit ?

26) What is the Volume-Variance for Fixed Overhead ?

27) The Volume Variance for Fixed Overhead is Favorable.

Group of answer choices

True

False

28) What is the Spending Variance for Fixed Overhead ?

29) The Spending Variance for Fixed Overhead is Favorable.

Group of answer choices

True

False

30) What is the Total Variance for Fixed Overhead ?

31) The Total Variance for Fixed Overhead is Favorable.

Group of answer choices

True

False