Q2. What is the fixed overhead [or production] volume variance amount? ____

A. $4650U B. 3400U C. 3000U D. 500U E. None of these.

Q3. Which manager or who is most likely responsible for production-volume variances? __

A. Purchasing. B. Marketing. C. Production. D. Chief Executive.

Q4. What is the direct labor efficiency variance amount? ____

A.. $2300U B. 750U C. 3050U D. None of these.

Q5. What is the direct material efficiency variance? ____

A. $1350F B. 2550F C. 3900F D. None of these.

Q6. Given the info above, what is the direct labor rate variance? ____

A. $750U B. 3050U C. 2300U D. None of these.

Q7. Given the info above, the fixed overhead controllable variance is: ____

A. $400U B. 3000U C. 3400U D. 500U E. None of these.

Q8. What is the variable overhead controllable variance? ____

A. $4650U B. 3000U C. 250U D. 1250U D. None of these.

Q1 to 29 use this case: Martin Co. uses the standard cost system. The Static original budgeted production was 3,500 units for this period. The Input standards were: Std Quantity * Std Price per input =Std Cost per Output U- Direct materials 2 lbs./Output unit x $4.25/lb. + Direct labor 1.5 hrs./Output unit x $7.50/hr. + Variable manufacturing (Mfg.] overhead 0.2 Machine hrx $25 per hr = $5 per unit Fixed mfg. overhead [Budget $21,000] 0.2 machine brx $30 per br = $6 per unit Martin Co. gathered the following actual results for the current month:+ Actual Units produced 3,000+ Direct materials purchased and used (5,400 lbs.) $21,600- Direct labor cost (4,600 hours actual) $36,800+ Manufacturing overhead costs incurred: $37,650 (=Variable $16,250 and Fixed $21,400]+ Machine hours (610 hours actual)