XYZ Manufacturing uses a standard cost system with overhead applied based on direct-labor hours. The manufacturing budget forthe production of 5,000 units for the month of June included 10,000 hours of direct labor at $20 per direct labor hour, and $6 per direct labor hour for variable overhead. During June, 4,500 units were produced, using 9.600 directlabor hours, incurring $53,400 of variable overhead. The efficiencyr variance for June for variable overhead would be: /_\\. '\\_/' 1] $3,600 unfavorable |/\\| L2 2} $3,600 favorable |/\\| L2 3} $4,200 favorable /_\\. '\\_/' 4} $4,200 unfavorable For process costing, the account for WIP will include the cost of Beginning Work-in- Process Inventory and be increased by the costs incurred during the current period and: ( 1) Reduced by the Costs Transferred to the next department. 2) Reduced by Ending Work-in-Process Inventory in the department. 3) Increased by the Costs Transferred to the next department. ( 4) Increased by the Overapplied overhead.When using a standard cost system in your accounting entries, you would debit direct materials inventory for: O 1) Standard cost of the actual direct materials purchased 2) Amount of materials purchased multiplied by the actual price per unit ( 3) Actual cost of materials purchased ( 4) The difference between the actual cost of materials purchased and the standard cost of the materials purchased.If a manager can control revenues and expenses but cannot determine the investment in new assets. they would be considered the manager of what kind of responsibility center: |/_\\| L2 1] Profit center l/\\l L2 2] Cost center /_\\ I I NJ 3] Investment center /_\\ '\\_/' 4] Operating segment A company has a direct materials purchase price variance that is $10,000 favorable. The most likely cause for this variance is that ( 1) Direct materials were purchased at a price per unit less than planned 2) Direct materials were used at a rate less than planned 3) Direct materials were purchased at a price per unit greater than planned 4) Direct materials were used at a rate greater than plannedA common size income statement analysis would generally calculate each expense as a percentage of what number? 1) Revenues O 2) Net Income ( 3) Total Assets 4) Total Equity