CK Ltd developed a standard costing system. The following standard costs for their major product in June 2021 Budgeted quantity Budgeted price Direct materials 0.10 pounds $60 per pound Direct labor 0.05 hours $30 per hour During June, all of the 20,000 units are produced and sold. The company purchased 1,900 pounds of direct materials at an average cost per pound of $64 and 1,500 pounds of such materials are used. The direct material price variance is Select one: a. $500 favorable b: $7,600 unfavorable c. $1,600 unfavorable d. $1,600 favorable The Peter Corporation manufactures two types of washers, the V for commercial building use and the H for residences, Budgeted and actual operating data for the year 2021 were as follows: Static Budget v Number sold 6,000 24,000 Contribution margin $260/unit $130/unit H H Actual Results Number sold 5,000 35,000 Contribution margin $280/unit $118/unit What is the total sales-mix variance in terms of the contribution margin? Select one: a $200,000 unfavorable b. $390,000 unfavorable c. $900,000 favorable d. $1,260,000 favorable Which of the following statement is /are true? 0) Responsibility accounting is a system that measures the plans, budgets, actions, and actual results of a responsibility center ti) Responsibility accounting is an arrangement of lines of responsibility and authority within a responsibility center (ii) A master budget includes only financial aspects of a plan and exclude nonfinancial aspects (iv) A master budget is the initial plan of what the company intends to accomplish in the period and evolves from both the operating and financing decisions Select one: a. (iv) only b. (i), (iv) only c. 6), (ii) only d. (i) only Which of the following regarding the productivity the component is true when analyzing the change in operating income between two years? Select one: a. It will report a large unfavourable amount when a company failed to pursue the cost leadership strategy b. It isolates the change in income attributed solely to an increase in the quantity of units sold. c. The calculation of productivity component is similar to the sales-volume variance calculations. d. The purpose of calculating the productivity component is to compare the change in output price with the changes in input prices At January 1, 2021, Deer Corp. has beginning inventory of 2,000 surfboards. Deer estimates it will sell 10,000 units during the first quarter of 2021 with an 15% increase in sales each quarter. Deer's policy is to maintain an ending inventory equal to 25% of the next quarter's sales, Each surfboard costs $100 and is sold for $150. How much is budgeted sales revenue for the third quarter of 2021? Select one: a $1,983,750 b. $1,848,150 c. $1,322,500 d. $1,665,000 7:10