Fluegge Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. Inputs Direct materials Direct labor Variable manufacturing overhead Standard Quantity or Hours per Unit of Output 5.7 liters 0.70 hours 0.70 hours Standard Price or Rate $ 5.40 per liter $20.60 per hour $ 5.50 per hour The company has reported the following actual results for the product for December: Actual output Raw materials purchased Actual price of raw materials Actual cost of raw materials purchased Raw materials used in production Actual direct labor-hours Actual direct labor rate Actual direct labor cost Actual variable overhead rate Actual variable overhead cost 4,100 units 25,100 liters $ 4.80 per liter $120,480 23,360 liters 2,700 hours $ 21.20 per hour $ 57,240 $ 5.90 per hour $ 15,930 The raw materials quantity variance for the month is closest to: Multiple Choice 0 $54 F 0 $54 U 0 $48 U 0 $48 F A quantity standard indicates how much of an input should be used to make a unit of product or provide a unit of service. True or False True True False The variable overhead efficiency variance measures the difference between the actual level of activity and the standard activity allowed for the actual output, multiplied by the variable part of the predetermined overhead rate. True or False True True False Bumgardner Inc. has provided the following data concerning one of the products in its standard cost system. Inputs Direct materials Standard Quantity or Hours per Unit of Output 8.0 liters Standard Price or Rate $5.00 per liter The company has reported the following actual results for the product for April: Actual output Raw materials purchased Actual price of raw materials Raw materials used in production 7,400 units 65,400 liters $ 5.70 per liter 59,210 liters The direct materials purchases variance is computed when the materials are purchased. The raw materials price variance for the month is closest to: Multiple Choice 0 $45,780 F 0 $45,780 U 0 $41,447 F 0 $41,447 U