App11B - Appendix 11B Journal Entries to Record Variances Question Type Difficulty LO1 Setting standards LO2 Materials variances LO3 Direct labor

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Unformatted text preview: Appendix 11B, Journal Entries to Record Variances Question Type Difficulty LO1: Setting standards LO2: Materials variances LO3: Direct labor variances LO4: Variable overhead variances LO5: Performance measures LO6: Fixed overhead variances (App 11A) LO7: Journal entries (App 11B) Professional Exam Adapted ID Origin CMA/CPA origin 1 T/F M x 3/e: 9-12 Authors 2 T/F M x 6/e: 9-15 Authors 3 Conceptual M/ C M x x EN, 4/19/2003 B1 E.N. 4 Conceptual M/ C M x x EN, 4/19/2003 C2 E.N. 5 Conceptual M/ C M x x LD9e:CH10Q08 Larry Deppe 6 Conceptual M/ C M x x EN, 4/19/2003 F2 E.N. 7 Conceptual M/ C M x x EN, 4/19/2003 H1 E.N. 8 Conceptual M/ C M x x LD9e:CH10Q09 Larry Deppe 9 M/C E x x 9/21/2004 Single MC AQ3 E.N. 10 M/C E x x 9/21/2004 Single MC AR3 E.N. 11 M/C E x x 9/21/2004 Single MC AS3 E.N. 12 M/C E x x 9/21/2004 Single MC AT3 E.N. 11B-1 Appendix 11B, Journal Entries to Record Variances 13 M/C M x x 8/e: ATB10-54 David Keyes 14 M/C E x 9/21/2004 Single MC AK3 E.N. 15 M/C E x 9/21/2004 Single MC AL3 E.N. 16 M/C E x 9/21/2004 Single MC AM3 E.N. 17 M/C E x 9/21/2004 Single MC AN3 E.N. 18 M/C E x 9/21/2004 Single MC AO3 E.N. 19 M/C E x 9/21/2004 Single MC AP3 E.N. 11B- 1 20- 23 Multipart M/C M x x x 5/e: 9-52 to 56 Authors 11B- 2 24- 27 Multipart M/C M x x 9/21/2004 Multi MC E3 E.N. 11B- 3 28- 31 Multipart M/C M x x 9/21/2004 Multi MC F3 E.N. 11B- 4 32- 34 Multipart M/C M x x 9/21/2004 Multi MC G3 E.N. 11B- 5 35- 37 Multipart M/C M x x 9/21/2004 Multi MC H3 E.N. 38 Problem H x x x x LD9e:CH10P1 Larry Deppe 39 Problem M x x EN 4/20/2003 D3 E.N. 40 Problem M x x EN 4/21/2003 E3 E.N. 41 Problem E x x 9/15/2004 Problem H3 E.N. 42 Problem E x x 9/15/2004 Problem I3 E.N. 43 Problem M x x EN 4/21/2003 H3 E.N. 44 Problem M x x EN 4/21/2003 I3 E.N. 45 Problem E x x 9/21/2004 Problem J3 E.N. 46 Problem E x x 9/21/2004 Problem K3 E.N. 11B-2 Appendix 11B, Journal Entries to Record Variances True / False Questions 1. A favorable labor efficiency variance would result in a credit balance in the labor efficiency variance account. True False 2. A favorable materials quantity variance would appear as a debit in a journal entry. True False Multiple Choice Questions 3. When the actual price paid on credit for a raw material is less than its standard price, the journal entry would include: A. Debit to Raw Materials; Credit to Materials Price Variance B. Debit to Accounts Payable; Credit to Materials Price Variance C. Debit to Raw Materials; Debit to Materials Price Variance D. Debit to Accounts Payable; Debit to Materials Price Variance 4. When the actual amount of a raw material used in production is less than the standard amount allowed for the actual output, the journal entry would include: A. Debit to Raw Materials; Credit to Materials Quantity Variance B. Debit to Work-In-Process; Credit to Materials Quantity Variance C. Debit to Raw Materials; Debit to Materials Quantity Variance D. Debit to Work-In-Process; Debit to Materials Quantity Variance 11B-3 Appendix 11B, Journal Entries to Record Variances...
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This note was uploaded on 11/10/2010 for the course ACCOUNTING acc taught by Professor Sign during the Spring '10 term at S. Alabama.

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App11B - Appendix 11B Journal Entries to Record Variances Question Type Difficulty LO1 Setting standards LO2 Materials variances LO3 Direct labor

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