71. If the price paid per unit differs from the standard price per unit for direct materials, the variance is termed a:
A. variable variance
B. controllable variance
C. price variance
D. volume variance
72. The following data is given for the Stringer Company:
73. The following data is given for the Stringer Company:
74. The Lucy Corporation purchased and used 129,000 board feet of lumber in production, at a total cost of $1,548,000. Original production had been budgeted for 22,000 units with a standard material quantity of 5.7 board feet per unit and a standard price of $12 per board foot. Actual production was 23,500 units.
Compute the material price variance.
A. 0
B. 59,400U
C. 59,400F
D. 6,000U
75. The Lucy Corporation purchased and used 129,000 board feet of lumber in production, at a total cost of $1,548,000. Original production had been budgeted for 22,000 units with a standard material quantity of 5.7 board feet per unit and a standard price of $12 per board foot. Actual production was 23,500 units.
Compute the material quantity variance.
A. 63,000F
B. 63,000U
C. 59,400F
D. 59,400U
76. If the wage rate paid per hour differs from the standard wage rate per hour for direct labor, the variance is termed a:
A. variable variance
B. rate variance
C. quantity variance
D. volume variance
77. If the actual direct labor hours spent producing a commodity differ from the standard hours, the variance is termed a:
A. time variance
B. price variance
C. quantity variance
D. rate variance
78. The following data relate to direct labor costs for the current period:
79. The following data relate to direct labor costs for the current period:
80. The following data relate to direct labor costs for the current period: