NOLTIPLE CHOTCs -Select the one best show Computations ee the following information for . 1. H Co produced 1 unit of ItemY during the month Costa incurred during the month to1lows direct materiale used direct laboE variable factory overhead. fixed factory overhead variable selling&adminiotrative expense fixed selling& administrative expense1 1. What was Item Y per unit product cost under direct (variable) costing a. 12 b. 21 . 25 d. 29 2. What was Item Y per unit product cost under absorption costing a. 12 b. 21 . 25 d. 29 3. Direct (variable costing method includes in inventory a. direct materials, direct labor, but no factory overhead b. direct materials, direct labor, and variable factory overhead c. prime cost but not conversion cost d. prime cost and all conversion cost 4. Standard costing system is used Cost of goods sold at standard 2 Variances net to a total of 1 unfavorable Company closes variances to cost of goods sold Cost of goods sold adjusted for variances a. 1 b. 2 c. 3 5.I. Direct materials: Standard cost per unit 2 Actual purchases: The materials price variance is 8: 10 units at a total cost of 60 = [AP - SP] x AQ purchased a. 10 b. 30 c. 40 d. 58 II. The variance in part I is a. favorable b. unfavorable the standard iitee mix cost pex ie io theretoe +.5 36 the period TYP iters The average sotuai coat per liter ia therefore.261 136 output ot tinished product was 2s unite tor nateriai c was a II. The variance in part b. unfavorable 15.I. Overall yield variance for direct materialsa was Output a4.00 b. 4.50 e. 17.04 d. 18.00 so allowed rield xActual output IE. The variance in part is YIELD LAQ UsedQ allowedl VARIANCE Std Avg Price a. favorable b. unfavorable 16. What does a eredit balance in a direct labor efficiency variance account indicate a. actual total direct labor coats incurred were less than standard direct b. average wage rate paid to direct labor employees was less than the c. number of units produced was less than the number of units budgeted for labor costs allowed for the units produced standard rate the period d. standard hours alloved for the units produced were greater than actual hours used