NEED HELP PLEASE. The questions have multiple choice answers that are provided.

1.

Zenith Fashions uses standard costs for their manufacturing division. From the following data, calculate the fixed overhead cost variance.

$5,000 U

$5,000 F

$3,000 U

$3000 F

2. Mountain Sports Equipment Company projected sales of 78,000 units at a unit sale price of $12 for the year 2015. Actual sales of 2015 were 75,000 units at $14.00 per unit. Variable costs were budgeted at $3 per unit; actual amount was $4 per unit. Budgeted fixed costs totaled $375,000, while actual fixed costs amounted to $400,000. What is the sales volume variance for total revenue?

$36,000 unfavorable

$36,000 favorable

$23,000 favorable

$23,000 unfavorable

3. If an analyst wants to see how assets of a company have changed from one year to the next, horizontal analysis must be used.

True OR False

4.

Management's discussion and analysis section of the annual report is the company's attempt to explain its financial statements and to discuss its performance.

True OR False

5. Which of the following correctly describes just-in-time (JIT) inventory management?

A. It is an inventory purchase approach that seeks purchase discounts on buying large quantities.

B. It is a production approach that maintains surplus goods at each stage of manufacture.

C. It is an inventory approach which stockpiles raw materials to protect against supply interruptions.

D. It is a cost management approach that focuses on maintaining lean inventory levels.

Actual fixed overhead Budgeted fixed overhead Standard overhead allocation rate Standard direct labor hours per unit Actual output $30,000 $25,000 $7 2 DLHr 2,000 units