Use the following to answer questions 11 and 12:

The Paris Company provides catering services.A typical job involves serving a number of meals to guests at a corporate function or at a host's home, and the budgeted cost of catering supplies is $300 per month plus $100 per job catered plus $25 per meal served.The company budget for May was 27 jobs to be catered and 160 meals to be served.The actual activity for May was 26 jobs catered and 192 meals served, and the actual cost of catering supplies was $7,620.

Question 11

1pts

Paris' activity variance for catering supplies for the month of May was:

$620 Unfavorable

$80 Unfavorable

$80 Favorable

$700 Unfavorable

Question 12

1pts

Paris' spending variance for catering supplies for the month of May was:

$620 Unfavorable

$700 Unfavorable

$80 Favorable

$80 Unfavorable

Use the following to answer questions 13 through 18:

The Vienna Company, which manufactures violins, has established the following standard costs per violin:

Standard Qty/Hours Standard Price/Rate

Direct Materials 3 pounds $4.00 per pound

Direct Labor 2 hours $8.00 per hour

Variable Mfg Overhead 2 hours $5.00 per hour

Vienna produced 600 violins.To produce the violins, the company used 2,000 pounds of direct materials at a total cost of $7,600; employees worked 1,100 direct labor hours and the total amount paid for direct labor was $9,240, and actual variable manufacturing overhead spending was $5,720.Variable manufacturing overhead is based upon direct labor hours.

Question 13

1pts

Vienna's materials quantity variance is:

$800 Unfavorable

$4,000 Unfavorable

$760 Unfavorable

$760 Favorable

Question 14

1pts

Vienna's materials price variance is:

$600 Unfavorable

$600 Favorable

$400 Favorable

$400 Unfavorable

Question 15

1pts

Vienna's labor rate variance is:

$480 Favorable

$440 Unfavorable

$480 Unfavorable

$440 Favorable

Question 16

1pts

Vienna's labor efficiency variance is:

$840 Favorable

$840 Unfavorable

$800 Favorable

$800 Unfavorable

Question 17

1pts

Vienna's variable overhead efficiency variance is:

$500 Unfavorable

$520 Favorable

$520 Unfavorable

$500 Favorable

Question 18

1pts

Vienna's variable overhead rate variance is:

$220 Favorable

$240 Favorable

$240 Unfavorable

$220 Unfavorable

Question 19

1pts

The management of Lisbon Corporation is considering a project that would require an investment of $282,000 and would last for 6 years.The annual cash inflows from the project would be $141,000.Depreciation on the project's assets would be $43,000 per year and the scrap value of the assets at the end of 6 years would be $24,000.The payback period of the project is closest to:

2.6 years

2.0 years

5.1 years

2.9 years

Question 20

1pts

A piece of new equipment will cost $70,000.The equipment will provide a cost savings of $15,000 per year for ten years, after which it will have a $3,000 salvage value.If the required rate of return is 14%, the equipment's net present value is:

$23,888

negative $8,240

$9,050

$8,240