Townsend Company budgeted 2,500 pounds of direct materials costing $32.00 per pound to make 1,250 units of product. The company actually used 2,400 pounds costing $35.50 per pound to make the 1,250 units. The direct materials efficiency variance is _______.

	$3,550 unfavorable
	$3,200 favorable

	$3,550 favorable
	$3,200 unfavorable

The actual cost of direct materials is $10.50 per pound. The standard cost per pound is $11.75. During the current period 10,000 pounds were used in production and 11,500 pounds were purchased. The standard quantity for actual units produced is 9,900 pounds. The direct materials price variance, assuming it is recorded at purchase point, is _______.

	$14,375 favorable
	$12,500 unfavorable

	$12,500 favorable
	$14,375 unfavorable

Guilford Company uses the following standard costs for a single unit of product. Direct labor (2 hours @ $10/hour) $20 Overhead (2 hours @ $5/hour) $10 Actual data for the month showed overhead costs of $240,000 for 25,000 units produced. The difference between actual overhead and standard overhead allocated to products is ______.

	$115,000 F
	$115,000 U

	$10,000 U
	$10,000 F

Boxes Company has collected the following data for one of its products:
Direct materials standard (3 pounds @ $1/lb.)	$3 per finished good
Direct materials flexible budget variance-unfavorable	$14,000
Actual direct materials used	100,000 pounds
Actual finished goods produced	25,000 units

Refer to Table 2. The direct materials efficiency variance is _______.

	$11,000 U
	$25,100 F

	$11,000 F
	$25,000 U

Jennifer Gibson Company budgeted 4,000 pounds of direct materials costing $7.00 per pound to make 8,000 units of product. The company actually used 4,200 pounds costing $6.50 per pound to make the 8,000 units. The direct materials efficiency variance is _______.

	$3,400 unfavorable
	$1,400 unfavorable

	$100 favorable
	$2,000 favorable

A flexible budget variance is the difference between _______.

	actual results and amounts in the static budget
	amounts in the flexible budget and the actual results

	amounts in the flexible budget and the static budget
	the budgeted amounts for each level of activity in the flexible budget

Table 4

Education Products Company gathered the following information for Job #155: Standard Actual Total Cost Total Cost Direct materials: Standard: 1,000 pints at $5/pint $5,000 Actual: 1,160 pints at $6/pint $6,960 Direct labor: Standard: 500 hours at $7.50/hr. 3,750 Actual: 480 hours at $7.25/hr. 3,480

Refer to Table 4. The direct materials efficiency variance is _______.

	$800 unfavorable
	$960 favorable

	$800 favorable
	$1,000 favorable

The actual cost of direct labor per hour is $12.50 and the standard cost of direct labor per hour is $12.00. Two standard direct labor hours are allowed per finished good. During the current period, 250 finished goods were produced using 475 direct labor hours. The direct labor efficiency variance is _______.

	$300.00 favorable
	$312.50 unfavorable

	$312.50 favorable
	$300.00 unfavorable

If actual units produced exceed the budgeted units to be produced, one would expect the _______.

	production volume variance to be unfavorable
	overhead flexible budget variance to be favorable

	overhead flexible budget variance to be unfavorable
	production volume variance to be favorable

M and N Company has the following information about its standards and production activity for January. Actual manufacturing overhead incurred: $62,400 Standard manufacturing overhead: Variable manufacturing overhead @ $3.20 per unit produced Fixed manufacturing overhead @ $3 per unit ($36,000/12,000 budgeted units) Actual units produced: 9,700 The standard overhead allocated to actual production is ______.

	$74,400
	$67,040

	$60,140
	$67,500