QUESTION 44 Shorts, Inc. produces small engines. For last year's operations, the following data were gathered Units produced 100.000 Direct labor 160,000 hours $12.00 Actual variable overhead $1,300,000 Shorts, Inc. employs a standard costing system. During the year, a variable overhead rate of $8.00 was used. The labor standard requires 15 hours per unit produced. The variable overhead spending and efficiency variances are, respectively $100,000 U and $20,000 U $100,000 U and $20,000 F. $20.000 U and $80,000 U. $20,000 U and $80,000 F. none of these QUESTION 45 Which of the following is not one of the three steps in building an activity based budget? identifying activities dassifying activities as value-added or nonvalue-added O estimating the demand for each activity's output O estimating the cost of producing the output demanded by each activity none of these are steps in building an activity-based budget QUESTION 42 If an organization has implemented an ABC or ABM system, they will already have accomplished which of the following? Identified the activities within an organization Estimated the demand for each activity's output Assessed the cost of resources required to produce this activity output All of these QUESTION 43 The formula for the variable overhead spending variance can be expressed as follows: (AH-SH)SVOR O (AVOR - SVORISH O (AVOR - SVORJAH O (AH-SH)AVOR none of these QUESTION 41 Figure 11-3. Jackson Company has developed the following flexible budget formulas for its four overhead items Variable rate per Overhead item Fixed Cost direct labor hour Maintenance $8,000 $2.00 Power $2,000 $0.40 Direct labor $10.00 Equipment lease $5,000 Jackson normally produces 10,000 units (each unit requires 0.10 direct labor hours), however this year 15,000 units were produced with the following actual cu Overhead Item Actual costs Maintenance $14,000 Power $ 3,600 Direct labor $16.000 Equipment lease $ 5,000 Refer to Figure 11-3. Calculate the after-the-fact budget for the actual level of activity O $31.600 $15,000 $18.600 O $27.400 none of these QUESTION 39 The formula for the fixed overhead volume variance is O (AFOH - SFOR) SH O (AFOH-SFOR) AH O AFOH-BFOH O (AFOH - SFOR) SH none of these QUESTION 40 A performance report for variable overhead reveals the aggregate variable overhead spending and efficiency variances the volume and spending variances the spending and efficiency variances for each variable overhead itom both the aggregate variable overhead spending and efficiency variances and the spending and efficiency variances for each variable overhead item both the volume and spending variances and the spending and efficiency variances for each variable overhead item