Please provide an explanation to the correct answer, please and thank you

Question 3

San Antonio Chair Inc. has direct labor cost standard of $14 per direct labor hour and an efficiency standard of 4 hours per chair. The actual results for the period when 30 chairs were built were 130 direct labor hours at an actual cost of $1,560.

What is the direct labor cost variance?

$140 U

$260 F

$120 U

$120 F----Incorrect.

Question 5

The following data relate to direct materials for the month for the Hodge Wax Company: The standard costs for the work done was 5,900 pounds of wax at $9.50 per pound. The actual costs were 6,200 pounds at $9 per pound. What is the direct materials cost variance?

$3,100 U

$2,850 F

$3,100 F

$250 F-----Incorrect

Question 7

Central Table Inc. has prepared a static budget at the beginning of the month. At the end of the month the following information is available:

Static Budget: Sales volume: 2,000 units: Price $50 per unit Variable costs: $12 per unit: Fixed costs: $25,000 per month Operating Income: $51,000

Actual Results: Sales volume: 1,800 units: Price $58 per unit Variable costs: $16 per unit: Fixed costs: $35,000 per month Operating Income: $40,600

Calculate the flexible budget variance for variable costs.

$3,960 F

$2,970 U

$7,200 U

$5,490 U------Incorrect

Question 8

Westside Lamps Inc. has prepared a static budget at the beginning of the month. At the end of the month the following information is available:

Static Budget: Sales volume: 1,000 units: Price $70 per unit Variable costs: $32 per unit: Fixed costs: $37,500 per month Operating Income: $500

Actual Results: Sales volume: 990 units: Price $74 per unit Variable costs: $35 per unit: Fixed costs: $33,000 per month Operating Income: $40,600

Calculate the flexible budget variance for fixed costs.

$4,500 U

$5,490 F

$4,500 F

$0-----Incorrect

Question 12

Hill Country BBQ can further process 3,200 pounds of regular brisket to produce GoldStar Prime (G.P.). Regular is currently selling for $7 per pound and cost $3 per pound to produce. G.P. is sure good and sells for $11 per pound and would require additional processing costs of $2.50 to produce. What is the differential Total Net Revenue of producing GoldStart Prime?

$4,800

$2,400

$12,800----Incorrect.

$8,000

Question 16

An anticipated investment of $400,000 is expected to yield the following annual operating income and net cash flow:

Year

Operating Income

Net Cash Flow

1

$60,000

$110,000

2

50,000

100,000

3

50,000

100,000

4

40,000

90,000

5

40,000

90,000

6

40,000

90,000

7

40,000

90,000

8

40,000

90,000

What is the payback period?

4 years

5 years----Incorrect.

6 years

3 years

Question 19

Which of the following are present value methods of analyzing capital investment proposals?

Internal rate of return and accounting rate of return

Net present value and payback

Accounting rate of return and net present value-----Incorrect.

Net present value and internal rate of return

Question 20

When several alternative investment proposals of the same amount are being considered, the one with the largest net present value is the most desirable. If the alternative proposals involve different amounts of investment, it is useful to prepare a relative ranking of the proposals by using a(n):

profitability index

consumer price index

accounting rate of return----Incorrect.

price-level index