ACCT2301-002-Chap8-Additional-sp2009

ACCT2301-002-Chap8-Additional-sp2009 - 1 ACCT 2301 Spring...

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1 ACCT 2301 Spring Semester 2009 March 2, 2009 Practice Problems – Standard Costing/Variance Analysis 1. A favorable efficiency variance for direct manufacturing labor indicates that A. a lower wage rate than planned was paid for direct labor. B. a higher wage rate than planned was paid for direct labor. C. less direct manufacturing labor-hours were used during production than planned for actual output. D. more direct manufacturing labor-hours were used during production than planned for actual output. 2. An unfavorable price variance for direct materials might indicate A. that the purchasing manager purchased in smaller quantities due to a change to just-in-time inventory methods. B. that there was congestion in the firm’s main production process due to scheduling problems. C. that the purchasing manager skillfully negotiated a better purchase price. D. that the market had an unexpected oversupply of those materials. 3.
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ACCT2301-002-Chap8-Additional-sp2009 - 1 ACCT 2301 Spring...

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