Which of the following is an example of a direct labor cost standard? 0.5 direct labor hours per unit $0.95 per square foot 50 square feet per unit $40 per direct labor hour 3 pts Question 41 Which of the following is an example of a direct materials efficiency standard? $0.95 per square foot 6 direct labor hours per unit $40 per direct labor hour 50 square feet per unit Question 42 The management of Pamela's Pet Supplies has calculated the following variances: $8000 U Direct materials cost variance Direct materials efficiency variance 40,000 F Direct labor cost variance 16,500 F 12,500 U Direct labor efficiency variance Total variable overhead variance Fixed overhead cost variance 8000 F 3500F When determining the total product cost flexible budget variance, what is the fixed overhead variance of the company? $12,500 U $11,500 F $3500 F $8000 U ou are being held to the USF Honor System. That means you are expected to tion by yourself. As mentioned earlier, you may use a formula sheet. Please kee ng to the USF Honor System, cheating on examinations will result in penaltiest de of "F" for the specific examination and a grade of "F" or "FF" for the course. academic dishonesty will be reported to the Dean of the College. 3p Question 43 Which of the following best describes a standard? cost variance actual sales price, cost, or quantity costs incurred to produce a product a sales price, cost, or quantity that is expected under normal conditions Next Previous Not saved Submit Which of the following is the correct formula for measuring a cost variance? Cost Variance = (Actual Cost - Standard Cost) * Actual Quantity Cost Variance = (Actual Cost - Standard Cost) - Actual Quantity Cost Variance = (Actual Cost + Standard Cost) + Actual Quantity Cost Variance = (Actual Cost + Standard Cost) /Actual Quantity