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Bartels Corp. produces woodcarvings. It takes 2 hours of direct labor to produce a carving. Bartels' standard labor cost is $12 per hour.

1.Bartels Corp. produces woodcarvings. It takes 2 hours of direct labor to produce a carving. Bartels' standard labor cost is $12 per hour. During August, Bartels produced 10,000 carvings and used 21,040 hours of direct labor at a total cost of $250,376. What is Bartels' labor rate variance for August?
a. 2,000 favorable
b. 2,104 unfavorable
c. 2,104 favorable
d. 4,160 favorable
e. 2,000 unfavorable
2.A company's flexible budget for 48,000 units of production showed variable overhead costs of $72,000 and fixed overhead costs of $64,000. The company incurred overhead costs of $122,800 while operating at a volume of 40,000 units. The total controllable cost variance is:
a. 1,200 favorable
b. 1,200 unfavorable
c. 13,200 favorable
d. 13,200 unfavorable
e. 15,200 favorable
3.A cost-volume-profit (CVP) chart is a graph that plots volume on the horizontal axis and costs and sales on the vertical axis.
True/False

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