Question
Fegox Firinghi (FF) produces flip flops. Each flip-flop requires 2 lbs of Flub and 1 lb of Fleeb, which are planned to cost $8 and
- Fegox Firinghi (FF) produces flip flops. Each flip-flop requires 2 lbs of Flub and 1 lb of Fleeb, which are planned to cost $8 and $3 per lb. respectively. During the month of May, FF purchased 22,000 lbs of Flub for $194,000 and 13,000 lbs of Fleeb for $42,000. All materials were consumed in producing 10,500 good flip flops.
Which is true?
Group of answer choices
Direct materials price variances total $21,000 unfav
Direct material price variances total $6,950 unfav
The standard price of Flub should be revised
The standard price of Flub should not be revised
2.Fegox Firinghi (FF) produces flip flops. Each flip-flop requires 2 lbs of Flub and 1 lb of Fleeb, which are planned to cost $8 and $3 per lb. respectively. During the month of May, FF purchased 22,000 lbs of Flub for $194,000 and 13,000 lbs of Fleeb for $42,000. All materials were consumed in producing 10,500 good flip flops.
Which is true?
Group of answer choices
The direct material quantity variances total $21,000 fav
FF was very efficient in using raw materials to produce their output
Direct material quantity variances total $15,500 fav
Direct materials quantity variances total $15,500 unfav
3.Which of these statements is true?
Group of answer choices
Budgeted volume = Actual output units allowed
Actual volume = Budgeted output actual units allowed
Expected volume = Standard volume
Standard volume = Actual output # cost driver units allowed
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