Which of the following conditions normally would not indicate that standard costs should be revised?

a.The engineering department has revised product specifications in responding to customer suggestions.

b.The average price of raw materials increased from $4.68 per pound to $4.82 per pound.

c.The company has signed a new union contract that increases the factory wages on average by $3.50 an hour.

d.Actual costs differed from standard costs for the preceding week.

The principle of exceptions allows managers to focus on correcting variances between

a.competitor's costs and standard costs

b.competitor's costs and actual costs

c.variable costs and actual costs

d.standard costs and actual costs

Jaxson Corporation has the following data related to direct labor costs for September: actual costs are 10,200 hours at $15.75 per hour and standard costs are 10,800 hours at $15.50 per hour. What is the direct labor time variance?

a.$9,450 favorable

b.$9,450 unfavorable

c.$9,300 unfavorable

d.$9,300 favorable

The standard costs and actual costs for direct materials for the manufacture of 3,000 actual units of product are

Standard Costs
Direct materials (per completed unit)	1,040 kilograms at $8.75
Actual Costs
Direct materials	2,000 kilograms at $8.00

The amount of direct materials price variance is

a.$1,500 favorable variance

b.$1,500 unfavorable variance

c.$2,750 favorable variance

d.$2,750 unfavorable variance