Please answers attached questions and limited time.

A plant has two departments, Machining and Assembly. This year's budget for the plant contained the following information. Machining Assembly Manufacturing overhead $4,000,000 $2,000,000 Direct labor hours 100,000 200,000 Machine hours 40,000 40,000 Assume the plant uses machine hours as the overhead base in machining and direct labor in Assembly. If Job 2420 uses 20 direct labor hours in each department, 10 machines hours in Machining and 5 machine hours in Assembly, how much overhead would be assigned to the job? A. $1,100 B. $1,200 C. $2,100 D. $2,200 Flexible budgets A. Accommodate changes in the inflation rate. B. Are used to evaluate capacity use. C. Are static budgets that have been revised for changes in prices. D. Accommodate changes in activity levels. Blaster, Inc., a manufacturer of portable radios, purchases the components from subcontractors to use to assemble into a complete radio. Each radio requires three units each of Part XBEZ52, which has a standard cost of $1.45 per unit. During May, Blaster experienced the following with respect to Part XBEZ52: Units Purchases ($18,000) 12,000 Consumed in manufacturing 10,000 Radios manufactured 3,000 During May, Blaster incurred a purchase price variance of A. $450 unfavorable. B. $450 favorable. C. $500 favorable. D. $600 unfavorable. The purpose of identifying manufacturing variances and assigning their responsibility to a person/department should be to A. Use the knowledge about the variances to promote learning and continuous improvement in the manufacturing operations. B. Trace the variances to finished goods so that the inventory can be properly valued at year-end. C. Determine the proper cost of the products produced so that selling prices can be adjusted accordingly. D. Pinpoint fault for operating problems in the organization. ChemKing uses a standard costing system in the manufacture of its single product. The 35,000 units of direct materials in inventory were purchased for $105,000, and two units of direct materials are required to produce one unit of final product. In November, the company produced 12,000 units of product. The standard allowed for materials was $60,000, and the unfavorable quantity variance was $2,500. ChemKing's standard price for one unit of direct materials is A. $2.00 B. $2.50 C. $3.00 D. $5.00 Zeta Company is preparing its annual profit plan. As part of its analysis of the profitability of individual products, the controller estimates the amount of overhead that should be allocated to the individual product lines from the information given in the next column: Wall Specialty Mirrors Windows Units produced 25 25 Material moves per product line 5 15 Direct labor hours per unit 200 200 Budgeted materials handling costs $50,000 Under activity-based costing (ABC), Zeta's materials handling costs allocated to one unit of wall mirrors would be A. $1,000 B. $500 C. $1,500 D. $2,500 The master budget process usually begins with the A. Production budget. B. Operating budget. C. Financial budget. D. Sales budget. Which one of the following will allow a better use of standard costs and variance analysis to help improve managerial decision-making? A. B. C. Set standards with the help of line personnel directly involved in the process. Do not differentiate between variable and fixed overhead in calculating overhead variances. Use standard costs only for inventory valuation. D. Use the prior year's average actual cost as the current year's standard. Jackson Industries employs a standard cost system in which direct materials inventory is carried at standard cost. Jackson has established the following standards for the prime costs of one unit of product. Standard Standard Standard Quantity Price Cost Direct materials 5 pounds $ 3.60/pound $18.00 Direct labor 1.25 hours $12.00/hour 15.00 $33.00 During May, Jackson purchased 125,000 pounds of direct materials at a total cost of $475,000. The total factory wages for May were $364,000, 90% of which were for direct labor. Jackson manufactured 22,000 units of product during May using 108,000 pounds of direct materials and 28,000 direct labor hours. Jackson's direct materials usage (quantity) variance for May is A. $7,200 unfavorable. B. $7,600 favorable. C. $5,850 unfavorable. D. $7,200 favorable. The use of activity-based costing (ABC) normally results in A. C. Substantially greater unit costs for low-volume products than is reported by traditional product costing. Substantially lower unit costs for low-volume products than is reported by traditional product costing. Decreased setup costs being charged to low-volume products. D. Equalizing setup costs for all product lines. B. A company planned to produce 3,000 units of its single product, Titactium, during November. The standard specifications for one unit of Titactium include 6 pounds of materials at $.30 per pound. Actual production in November was 3,100 units of Titactium. The accountant computed a favorable direct materials purchase price variance of $380 and an unfavorable direct materials quantity variance of $120. Based on these variances, one could conclude that A. More materials were purchased than were used. B. More materials were used than were purchased. C. The actual cost of materials was less than the standard cost. D. The actual usage of materials was less than the standard allowed. Franklin Glass Works' production budget for the year ended November 30 was based on 200,000 units. Each unit requires 2 standard hours of labor for completion. Total overhead was budgeted at $900,000 for the year, and the fixed overhead rate was estimated to be $3.00 per unit. Both fixed and variable overhead are assigned to the product on the basis of direct labor hours. The actual data for the year ended November 30 are presented as follows. Actual production in units 198,000 Actual direct labor hours 440,000 Actual variable overhead $352,000 Actual fixed overhead $575,000 Franklin's variable overhead efficiency variance for the year is A. $33,000 unfavorable. B. $35,520 favorable. C. $66,000 unfavorable. D. $33,000 favorable. A manufacturer uses a standard cost system with overhead applied based upon direct labor hours. The manufacturing budget for the production of 5,000 units for the month of May included the following information: Direct labor 10,000 hours at $15 per hour $150,000 Variable overhead 30,000 Fixed overhead 80,000 During May, 6,000 units were produced and the fixed overhead budget variance was $2,000 favorable. Fixed overhead during May was A. Underapplied by $2,000. B. Underapplied by $16,000. C. Overapplied by $16,000. D. Overapplied by $18,000. The static budget for the month of May was for 9,000 units with direct materials at $15 per unit. Direct labor was budgeted at 45 minutes per unit for a total of $81,000. Actual output for the month was 8,500 units with $127,500 in direct materials and $77,775 in direct labor expense. The direct labor standard of 45 minutes was maintained throughout the month. Variance analysis of the performance for the month of May shows a(n) A. Favorable direct materials usage variance of $7,500. B. Favorable direct labor efficiency variance of $1,275. C. Unfavorable direct labor efficiency variance of $1,275. D. Unfavorable direct labor price variance of $1,275. A standard cost system is often used in variance analysis because standard costs A. C. Include past inefficiencies and take into account expected future changes. Exclude past inefficiencies and take into account expected future changes. Include past inefficiencies and exclude expected future changes. D. Exclude past inefficiencies and exclude expected future changes. B. A company manufactures one product and has a standard cost system. In April the company had the following experience: Direct Materials Direct Labor Actual $/unit of input (lbs. & hrs.) $28 $18 Standard price/unit of input $24 $20 Standard inputs allowed per unit of output 10 4 Actual units of input 190,000 78,000 Actual units of output 20,000 20,000 The direct labor rate variance for April is A. $240,000 favorable. B. $156,000 unfavorable. C. $156,000 favorable. D. $40,000 unfavorable