C8 QUIZ 2.pdf - Score 1 16/20 Points 80 Award 2 out of 2.00 points TB MC Qu 08-93 A company has established A company has established 5 pounds of

C8 QUIZ 2.pdf - Score 1 16/20 Points 80 Award 2 out of 2.00...

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1. Award: 2 out of 2.00 points 2. Award: 2 out of 2.00 points Score: 16/20 Points 80 % TB MC Qu. 08-93 A company has established... A company has established 5 pounds of Material J at $2 per pound as the standard for the material in its Product Z. The company has just produced 1,000 units of this product, using 5,200 pounds of Material J that cost $9,880.The direct materials price variance is: $520 unfavorable. $400 unfavorable. $120 favorable. $520 favorable. $400 favorable. AQ × AP Given $ 9,880 AQ × SP 5,200 pounds × $2/pound 10,400 Direct materials price variance $ 520 F References Multiple Choice Difficulty: 2 Medium TB MC Qu. 08-93 A company has established... Learning Objective: 08-P3 Compute materials and labor variances. TB MC Qu. 08-83 Hassock Corp. produces woven... Hassock Corp. produces woven wall hangings. It takes 2 hours of direct labor to produce a single wall hanging. Hassock’s standard labor cost is $12 per hour. During August, Hassock produced 10,000 units and used 21,040 hours of direct labor at a total cost of $250,376. What is Hassock’s labor efficiency variance for August? $12,480 favorable. $10,376 unfavorable. $14,584 unfavorable. $4,160 favorable. $12,480 unfavorable. AH × SR 21,040 × $12 $252,480 SH × SR (2 × 10,000) × $12 240,000 Direct labor efficiency variance $ 12,480 U References Multiple Choice Difficulty: 2 Medium TB MC Qu. 08-83 Hassock Corp. produces woven... Learning Objective: 08-P3 Compute materials and labor variances.
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3. Award: 2 out of 2.00 points 4. Award: 2 out of 2.00 points TB MC Qu. 08-58 A flexible budget may be prepared: A flexible budget may be prepared: Before the operating period only. After the operating period only. During the operating period only. At any time in the planning period. Only when the company encounters excessive costs. References Multiple Choice Difficulty: 2 Medium TB MC Qu. 08-58 A flexible budget may be prepared: Learning Objective: 08-P1 Prepare a flexible budget and interpret a flexible budget performance report.
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