Question 1 1 pts Regarding Direct Materials, standard quantity per unit (the standard input to output ratio) is best defined as: O Sum of estimated direct and indirect materials divided by units produced O Estimated amount of direct materials expected be used for each unit of finished product O Exact amount of direct materials used per unit of finished product O Estimated price expected be paid for each unit of direct materialsQuestion 2 1 pts Spending variances for each respective account are equal to: (Select all that apply and assume the quantity of materials used is equal to the quantity of materials purchased) O DL: Labor Rate Variance + Labor Efficiency Variance O) DM: Price Variance + Quantity Variance O) DM: Static Variance - Price Variance O VMOH: Production Volume Variance + Rate Variance O DL: Labor Rate Variance + Labor Activity VarianceQuestion 3 2 pts Dr. Fauci plans to make 10.000 cloth masks but ends up making 14.000 due to high demand. He purchases 5.000 yards of cloth and uses 4,600 in production. The actual price of cloth is $5.? per yard and the standard price is $5.4 per yard. The standard quantity is .25 yards per mask. What is Dr. Fauci's materials price variance? Enter your answer as a positive number [note Favorable or Unfavorable for the next question) E Question 4 1 pts Refer to your previous answer to Question 4. Is Dr. Fauci's materials price variance favorable or unfavorable? Favorable O UnfavorablePlease note your given numbers will have changed from the previous question! Question 5 2 pts Dr. Fauci plans to make 10,000 cloth masks but ends up making 14,000 due to high demand. He purchases 5,000 yards of cloth and uses 3,600 in production. The actual price of cloth is $5.8 per yard and the standard price is $5.6 per yard. The standard quantityllr is .25 yards per mask. What is Dr. Fauci's materials quantity variance? Enter your answer as a positive number [note Favorable or Unfavorable for the next question) E Question 6 1 pts Refer to your previous answer to Question 5. Is Dr. Fauci's materials quantity variance favorable or unfavorable? O Unfavorable O FavorableQuestion 7 2 pts Beyonce is looking at a monthly performance report for her lemonade stand for last month. She has been provided with the following standard cost per batch of lemonade: Standard Quantity (Input per Cost Standard Price batch) Direct Materials 0.8 pounds $5.00 per pound Direct Labor 1.2 hours $15.00 per hour Manufacturing overhead is allocated on the basis of machine hours. Last month, Beyonce's lemonade stand produced 150 batches of lemonade and incurred the following costs: a. Purchased 100 pounds of materials at a cost of $4.13 per pound. b. Used 88 pounds of materials in production. (Finished goods and work in process inventories can be ignored). c. Worked 194 direct labor-hours at a cost of $16.62 per hour. What is Beyonce's labor rate variance for last month? Enter your answer as a positive number (note Favorable or Unfavorable for the next question).Question 8 1 pts Refer to your previous answer to Question 7. Is Beyonce's labor rate variance for last month favorable or unfavorable? O Unfavorable O FavorablePlease note your given numbers will have changed from the previous question! Question 9 2 pts Beyonce is looking at a monthly performance report for her lemonade stand for last month. She has been provided with the following standard cost per batch of lemonade: Standard Quantity Cost Standard Price (Input per Batch) $5.00 per Direct Materials 0.8 pounds pound Direct Labor 1.2 hours $15.00 per hour Standard Costs are based on machine hours. Last month, Beyonce's lemonade stand produced 150 batches of lemonade and incurred the following costs: a. Purchased 100 pounds of materials at a cost of $4.26 per pound. b. Used 89 pounds of materials in production. (Finished goods and work in process inventories can be ignored). c. Worked 165 direct labor-hours at a cost of $16.96 per hour. What is Beyonce's labor efficiency variance for last month? Enter your answer as a positive number (note Favorable or Unfavorable for the next question).Question 10 1 pts Refer to your previous answer to Question 9. Is Beyonce's labor efficiency variance for last month favorable or unfavorable? O Favorable O UnfavorableQuestion 11 1 pts What typically differs between a Normal Cost system and a Standard Cost system? Q The predetermined overhead rate O The actual overhead costs incurred O What is multiplied by the predetermined overhead rate to get the amount of applied overhead 0 None of the given answers are comect Question 12 2 pts Yung Bay Surfboards manufactures fiberglass surfboards. The standards include using 7 hours of direct labor per board and paying $23 per direct labor hour. July budgeted to complete 460 boards and budgeted $74,060 for direct labor cost. Following are additional data for the month of July: Actual units completed 480 boards Actual direct labor cost $ 76,032 Direct labor efficiency variance $ 2,208 U 166 exceed direct labor hours a. Compute the number of excess direct labor hours YBS used this period, meaning the actual number of hours they used more than the number they should have used to make the actual output b. Compute the Direct Labor Rate Variance 1972 unfavorable c. Compute the Direct Labor Spending Variance [59'3\"] 1243 unfavorablev :'I :l