111. The formula to compute direct labor time variance is to calculate the difference between
A. actual costs - standard costs
B. actual costs + standard costs
C. (actual hours * standard rate) - standard costs
D. actual costs - (actual hours * standard rate)
112. The formula to compute direct materials price variance is to calculate the difference between
A. actual costs - (actual quantity * standard price)
B. actual cost + standard costs
C. actual cost - standard costs
D. (actual quantity * standard price) -standard costs
113. The formula to compute direct material quantity variance is to calculate the difference between
A. actual costs - standard costs
B. standard costs - actual costs
C. (actual quantity * standard price) - standard costs
D. actual costs - (standard price * standard costs)
114. Which of the following would not lend itself to applying direct labor variances?
A. Help desk
B. Administrative assistant
C. Customer service personnel
D. Telemarketer
115. The standard costs and actual costs for factory overhead for the manufacture of 2,500 units of actual production are as follows:
Standard Costs
|
|
Fixed overhead (based on 10,000 hours)
|
3 hours @ $.80 per hour
|
Variable overhead
|
3 hours @ $2 per hour
|
|
|
Actual Costs
|
|
|
|
Total variable cost, $18,000
|
|
Total fixed cost, $8,000
|
|
|
|
|
|
The amount of the factory overhead volume variance is:
A. $2,000 favorable
B. $2,000 unfavorable
C. $2,500 unfavorable
D. $0
116. The standard costs and actual costs for factory overhead for the manufacture of 2,500 units of actual production are as follows:
Standard Costs
|
|
Fixed overhead (based on 10,000 hours)
|
3 hours @ $.80 per hour
|
Variable overhead
|
3 hours @ $2 per hour
|
|
|
Actual Costs
|
|
|
|
Total variable cost, $18,000
|
|
Total fixed cost, $8,000
|
|
|
|
|
|
The amount of the total factory overhead cost variance is:
A. $2,000 favorable
B. $5,000 unfavorable
C. $2,500 unfavorable
D. $0
117. The standard costs and actual costs for factory overhead for the manufacture of 2,500 units of actual production are as follows:
Standard Costs
|
|
Fixed overhead (based on 10,000 hours)
|
3 hours @ $.80 per hour
|
Variable overhead
|
3 hours @ $2 per hour
|
|
|
Actual Costs
|
|
|
|
Total variable cost, $18,000
|
|
Total fixed cost, $8,000
|
|
|
|
|
|
The amount of the factory overhead controllable variance is:
A. $2,000 unfavorable
B. $3,000 favorable
C. $0
D. $3,000 unfavorable
118. The standard factory overhead rate is $10 per direct labor hour ($8 for variable factory overhead and $2 for fixed factory overhead) based on 100% capacity of 30,000 direct labor hours. The standard cost and the actual cost of factory overhead for the production of 5,000 units during May were as follows:
Standard:
|
25,000 hours at $10
|
$250,000
|
Actual:
|
Variable factory overhead
|
202,500
|
|
Fixed factory overhead
|
60,000
|
|
|
|
What is the amount of the factory overhead volume variance?
A. $12,500 favorable
B. $10,000 unfavorable
C. $12,500 unfavorable
D. $10,000 favorable
119. The standard factory overhead rate is $10 per direct labor hour ($8 for variable factory overhead and $2 for fixed factory overhead) based on 100% capacity of 30,000 direct labor hours. The standard cost and the actual cost of factory overhead for the production of 5,000 units during May were as follows:
Standard:
|
25,000 hours at $10
|
$250,000
|
Actual:
|
Variable factory overhead
|
202,500
|
|
Fixed factory overhead
|
60,000
|
|
|
|
What is the amount of the factory overhead controllable variance?
A. $10,000 favorable
B. $2,500 unfavorable
C. $10,000 unfavorable
D. $2,500 favorable
120. Assuming that the standard fixed overhead rate is based on full capacity, the cost of available but unused productive capacity is indicated by the:
A. factory overhead cost volume variance
B. direct labor cost time variance
C. direct labor cost rate variance
D. factory overhead cost controllable variance