Given the Martin Company information below, what is the direct material price variance ? ____

A. $750 F B. $0.25 F C. 2,550 F D. 3,900 F E. 1,350 F

Q13 to Q20 use this case: Martin Co. gathered the following actual results for the current month: Actual Units produced 3,000 Direct materials purchased and used (5,400 lbs.) $21,600 Direct labor cost (4,600 hours actual) $36,800 Manufacturing overhead costs incurred: $37,650 [=Variable $16,250 and Fixed $21,400] Machine hours (610 hours actual) The Static original budgeted production was 3,500 units. The Input standards were: Std Quantity x Std Price per input =Std Cost per Output U Direct materials 2 lbs./Output unit x $4.25/lb. Direct labor 1.5 hrs./Output unit x $7.50/hr. Variable manufacturing overhead 0.2 Machine hr x $25 per hr = $5 per unit Fixed mfg. overhead [Budget $21,000] 0.2 machine hr x $30 per hr = $6 per unit

Q14. Given the Martin Co. info above, what is the direct labor rate variance? ____

A. $750U B. 3050U C. 2300U D. None of these.

Q15. What is the direct material efficiency variance? ____

A. $1350F B. 2550F C. 3900F D. None of these.

Q16. Given the Martin Co. info above, the fixed overhead controllable variance is: ____

A. $400U B. 3000U C. 3400U D. 500U E. None of these.

Q17. What is the variable overhead controllable variance? ____

A. $4650U B. 3000U C. 250U D. 1250U D. None of these.

Q18. What is the fixed overhead volume variance amount? ____

A. $4650U B. 3400U C. 3000U D. 500U E. None of these

Q19. In a standard cost system, to apply direct labor costs to production, the journal entry should include: ____

A) Credited for standard quantity usage of direct labor for actual production times actual price per hour

B) Debited for actual quantity of direct labor times standard price per hour

C) Credited for standard quantity of direct labor used for actual production times standard price per hour

D) Debited for standard quantity of direct labor used for actual production times standard price per hour.

Q20. What is the direct labor efficiency variance amount? ____

A.. $2300U B. 750U C. 3050U D. None of these.