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    "meta_title": "[Solved] Need some aid on my accounting homework. | SolutionInn",
    "meta_description": "Answer of - Need some aid on my accounting homework. 10 multiple choice and one open ended. Part 4 (20 points) CHAPTER 23 Circle t | SolutionInn",
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    "question_title_h1": "Need some aid on my accounting homework. 10 multiple choice and one open ended. Part 4 (20 points) CHAPTER 23 Circle the letter of the",
    "question_title": "Need some aid on my accounting homework. 10 multiple choice and one",
    "question_title_for_js_snippet": "Need some aid on my accounting homework  10 multiple choice and one open ended  Part 4 (20 points) CHAPTER 23 Circle the letter of the best response  Questions 1 3 rely on the following data Baltimore Booms is a start up company that makes electronic sound amplifiers  The company has budgeted variable costs of $250 for each amplifier and fixed costs of $12,000 per month  Baltimore Booms' static budget predicted production and sales of 220 amplifiers in August, but the company actually produced and sold 232 amplifiers, at a total cost of $68,000  1  Baltimore Booms' total flexible budget cost for the actual number of amplifiers produced and sold is A  $58,000  B  $60,000  C  $67,000  D  $70,000  2  Baltimore Booms' sales volume variance for total costs is A  $3,000 U  B  $3,000 F  C  $2,000 U  D  $2,000 F  3  Baltimore Booms' flexible budget variance for total costs is A  $3,000 U  B  $3,000 F  C  $2,000 U  D  $2,000 F  4  Which department is typically responsible for setting material cost standards  A  Accounting B  Quality control C  Purchasing D  Production Questions 5 7 rely on the following data Baltimore Booms has budgeted 2 5 hours of direct labor per amplifier, at a standard cost of $22 per hour, for producing 220 amplifiers  During April, technicians actually worked 555 hours, producing 232 connectors, which were all sold  Baltimore Booms paid the technicians $24 per hour  The standard cost for variable overhead is $13 per direct labor hour  5  What is Baltimore Booms' direct labor price variance for April  A  $1,160 U B  $1,110 U C  $1,100 U D  $440 U 6  What is Baltimore Booms' direct labor efficiency variance for April  A  $660 U B  $600 F C  $550 F D  $110 U 7  What is Baltimore Booms' variable overhead cost variance for April  A  $ 65 U B  $325 F C  $390 U D  Cannot be determined from the information provided  Questions 8 9 rely on the following data RearGrade Systems produces laser tuners and allocates manufacturing overhead based on standard machine hours  According to its static budget, RearGrade expected the following  2,880 machine hours per month (11,520 tuners   0 25 machine hours per tuner) Fixed overhead is allocated at $23 per standard machine hour During June, RearGrade actually used 3,220 machine hours to make 12,200 tuners and spent $68,730 in fixed manufacturing overhead costs  8  RearGrade's fixed overhead cost variance is A  $5,330 U  B  $5,330 F  C  $2,490 U  D  $2,490 F  9  RearGrade's fixed overhead volume variance is A  $2,490 U  B  $3,910 F  C  $3,910 U  D  $5,330 F  10  Which of the following statements about variance journal entries is true  A  Favorable variances are credited because they increase operating income  B  Favorable variances are credited because they decrease operating income  C  Unfavorable variances are credited because they increase operating income  D  Unfavorable variances are debited because they increase operating income    Question 4 (5 points) CHAPTER 23 What is the difference between a flexible and a static budget  (Please be descriptive)",
    "question_description": "<p>Need some aid on my accounting homework. 10 multiple choice and one open ended.<\/p><img src=\"https:\/\/s3.amazonaws.com\/si.experts.images\/answers\/2024\/06\/667eab659adfe_445667eab658783a.jpg\" alt=\"image text in transcribed\"> Part 4 (20 points) CHAPTER 23 Circle the letter of the best response. Questions 1-3 rely on the following data Baltimore Booms is a start-up company that makes electronic sound amplifiers. The company has budgeted variable costs of $250 for each amplifier and fixed costs of $12,000 per month. Baltimore Booms' static budget predicted production and sales of 220 amplifiers in August, but the company actually produced and sold 232 amplifiers, at a total cost of $68,000. 1. Baltimore Booms' total flexible budget cost for the actual number of amplifiers produced and sold is A. $58,000. B. $60,000. C. $67,000. D. $70,000. 2. Baltimore Booms' sales volume variance for total costs is A. $3,000 U. B. $3,000 F. C. $2,000 U. D. $2,000 F. 3. Baltimore Booms' flexible budget variance for total costs is A. $3,000 U. B. $3,000 F. C. $2,000 U. D. $2,000 F. 4. Which department is typically responsible for setting material cost standards? A. Accounting B. Quality control C. Purchasing D. Production Questions 5-7 rely on the following data Baltimore Booms has budgeted 2.5 hours of direct labor per amplifier, at a standard cost of $22 per hour, for producing 220 amplifiers. During April, technicians actually worked 555 hours, producing 232 connectors, which were all sold. Baltimore Booms paid the technicians $24 per hour. The standard cost for variable overhead is $13 per direct labor hour. 5. What is Baltimore Booms' direct labor price variance for April? A. $1,160 U B. $1,110 U C. $1,100 U D. $440 U 6. What is Baltimore Booms' direct labor efficiency variance for April? A. $660 U B. $600 F C. $550 F D. $110 U 7. What is Baltimore Booms' variable overhead cost variance for April? A. $ 65 U B. $325 F C. $390 U D. Cannot be determined from the information provided. Questions 8-9 rely on the following data RearGrade Systems produces laser tuners and allocates manufacturing overhead based on standard machine hours. According to its static budget, RearGrade expected the following: 2,880 machine hours per month (11,520 tuners @ 0.25 machine hours per tuner) Fixed overhead is allocated at $23 per standard machine hour During June, RearGrade actually used 3,220 machine hours to make 12,200 tuners and spent $68,730 in fixed manufacturing overhead costs. 8. RearGrade's fixed overhead cost variance is A. $5,330 U. B. $5,330 F. C. $2,490 U. D. $2,490 F. 9. RearGrade's fixed overhead volume variance is A. $2,490 U. B. $3,910 F. C. $3,910 U. D. $5,330 F. 10. Which of the following statements about variance journal entries is true? A. Favorable variances are credited because they increase operating income. B. Favorable variances are credited because they decrease operating income. C. Unfavorable variances are credited because they increase operating income. D. Unfavorable variances are debited because they increase operating income. . Question 4 (5 points) CHAPTER 23 What is the difference between a flexible and a static budget? (Please be descriptive)",
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