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charter oak acc102 week 11 test part 1

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Question;?;Controlling the materials price variance is;usually the responsibility of;Answer;?;Question 2;3.75 out of 3.75 points;2. Controlling the;materials quantity variance is usually the responsibility of;Answer;?;Question 3;3.75 out of 3.75 points;3. The use of;inexpensive, low quality, materials often results in;Answer;?;Question 4;3.75 out of 3.75 points;4. Excessive;overtime hours worked by direct labor workers often results in;Answer;?;Question 5;3.75 out of 3.75 points;5. An unfavorable;overhead volume variance results from;Answer;?;Question 6;0 out of 3.75 points;6. If fewer units are produced than had been;estimated when standard unit costs were determined, there would normally be;Answer;?;Question 7;3.75 out of 3.75 points;7. Overhead volume variances indicate;Answer;?;Question 8;3.75 out of 3.75 points;8. Which statement is true regarding a standard;cost system?;Answer;?;Question 9;3.75 out of 3.75 points;9. The overhead spending variance;Answer;?;Question 10;3.75 out of 3.75 points;Use the following to answer questions 10-12;Tony's Inc. flexible budget for June, based upon;actual output, called for the use of 10,000 pounds of materials at a standard;cost of $6.10 per pound. The Production Department actually used 10,300;pounds of materials costing $5.80 per pound during June.;10. Refer to the information above. Tony's;materials price variance for June is;Answer;?;Question 11;3.75 out of 3.75 points;11. Refer to the information above. The materials;quantity variance for Tony's June operations is;Answer;?;Question 12;3.75 out of 3.75 points;12. Refer to the information above. The journal;entry to record the cost of direct materials used in June includes each of;the following except;Answer;?;Question 13;3.75 out of 3.75 points;Use the following to answer questions 13-16;Seaside Company's flexible budget, based upon the;number of equivalent units produced, called for the use of 5,000 square yards;of fabric at a standard cost of $2.10 per square yard. The Production;Department actually used 5,200 square yards costing $1.95 per square yard;during June.;13. Refer to the information above. The materials;price variance for Seaside Company for June is;Answer;?;Question 14;3.75 out of 3.75 points;14. Refer to the information above. The materials;quantity variance for Seaside Company for June is;Answer;?;Question 15;3.75 out of 3.75 points;15. Refer to the information above. The journal entry;to record the cost of direct materials used in March includes;Answer;?;Question 16;3.75 out of 3.75 points;16. Refer to the information above. With respect;to materials costs, the supervisor of the Production Department should be;held responsible for;Answer;?;Question 17;3.75 out of 3.75 points;Use the following to answer questions 17-20;Vista Mfg.'s July production involved actual;direct labor costs of $46,287 for 3,700 direct labor hours. The budget for;the July level of production called for 3,800 direct labor hours at $12.50;per hour, using a standard cost system.;17. Refer to the information above. With respect;to labor costs, Vista/>'s production manager is responsible for;Answer;?;Question 18;3.75 out of 3.75 points;18. Refer to the information above. Vista/>'s;labor rate variance for July is;Answer;?;Question 19;3.75 out of 3.75 points;19. Refer to the information above. Vista/>'s;labor efficiency variance for July is;Answer;?;Question 20;3.75 out of 3.75 points;20. Refer to the information above. Which of the;following is the most likely explanation for the types of labor variances;resulting from Vista/>'s July operations?;Answer;\

 

Paper#42630 | Written in 18-Jul-2015

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