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Question;101.;Mandy Company has the following direct labor costs last month;What was Mandy's;direct labor flexible-budget variance?;A.;$15,120 unfavorable.;B.;$20,800 unfavorable.;C.;$36,720 favorable.;D.;$42,480 favorable.;E.;$79,920 favorable.;102.;A company's flexible;budget for 15,000 units of production showed sales of $48,000, variable costs;of $18,000, and fixed costs of $12,000. The operating income in the master;budget for 20,000 units is;A.;$8,000.;B.;$13,500.;C.;$24,000.;D.;$28,000.;E.;$30,000.;103. A;company's master budget for October is to manufacture and sell 30,000 units for;a total of $270,000 with total variable costs of $180,000 and total fixed costs;of $24,000. The company actually manufactured and sold 32,000 units and generated;$45,000 of operating income in October. The flexible-budget operating income in;October is;A.;$27,000.;B.;$70,400.;C.;$72,000.;D.;$83,520.;E.;$86,400.;104. A;company's master budget for October is to manufacture and sell 30,000 units for;a total of $270,000 with total variable costs of $180,000 and total fixed costs;of $24,000. The company actually manufactured and sold 32,000 units and;generated $45,000 of operating income in October. The operating income;flexible-budget (FB) variance is;A.;$3,600 unfavorable.;B.;$6,000 unfavorable.;C.;$15,400 unfavorable.;D.;$21,000 unfavorable.;E.;$27,000 unfavorable.;105. A;company's master budget for October is to manufacture and sell 30,000 units for;a total of $270,000 with total variable costs of $180,000 and total fixed costs;of $24,000. The company actually manufactured and sold 32,000 units and;generated $45,000 of operating income in October. The sales volume variance, in;terms of operating income, for October is;A.;$3,600 favorable.;B.;$6,000 favorable.;C.;$15,400 favorable.;D.;$21,000 favorable.;106. In;September, Larson Inc. sold 40,000 units of its only product for $240,000 and;incurred a total cost of $225,000, of which $25,000 is fixed costs. The;flexible budget for September showed total sales of $300,000. Among variances;of the period were: total variable cost flexible-budget variance, $8,000U;total flexible-budget variance, $63,000U, and, sales volume variance, in terms;of contribution margin, $27,000U. The actual amount of operating income earned;in September was;A.;$15,000.;B.;$40,000.;C.;$63,000.;D.;$78,000.;E.;$105,000.;107. In;September, Larson Inc. sold 40,000 units of its only product for $240,000 and;incurred a total cost of $225,000, of which $25,000 is fixed costs. The;flexible budget for September showed total sales of $300,000. Among variances;of the period were: total variable cost flexible-budget variance, $8,000U;total flexible-budget variance, $63,000U, and, sales volume variance, in terms;of contribution margin, $27,000U. The total amount of variable costs in the;flexible budget for September was;A.;$129,000.;B.;$192,000.;C.;$200,000.;D.;$208,000.;E.;$255,000.;108. In;September, Larson Inc. sold 40,000 units of its only product for $240,000 and;incurred a total cost of $225,000, of which $25,000 is fixed costs. The;flexible budget for September showed total sales of $300,000. Among variances;of the period were: total variable cost flexible-budget variance, $8,000U;total flexible-budget variance, $63,000U), and, sales volume variance, in terms;of contribution margin, $27,000U). The amount of operating income in the;flexible budget (FB) for September was;A.;$40,000.;B.;$48,000.;C.;$56,000.;D.;$70,000.;E.;$78,000.;109. In;September, Larson Inc. sold 40,000 units of its only product for $240,000 and;incurred a total cost of $225,000, of which $25,000 is fixed costs. The;flexible budget for September showed total sales of $300,000. Among variances;of the period were: total variable cost flexible-budget variance, $8,000U;total flexible-budget variance, $63,000U, and, sales volume variance, in terms;of contribution margin, $27,000U.The budgeted fixed cost is;A.;$30,000.;B.;$45,000.;C.;$71,000.;D.;$78,000.;E.;$93,000.;110. In;September, Larson Inc. sold 40,000 units of its only product for $240,000 and;incurred a total cost of $225,000, of which $25,000 is fixed costs. The;flexible budget for September showed total sales of $300,000. Among variances;of the period were: total variable cost flexible-budget variance, $8,000U;total flexible-budget variance, $63,000U, and, sales volume variance, in terms;of contribution margin, $27,000U. The sales volume variance, in terms of;operating income, is;A.;$20,000 unfavorable.;B.;$27,000 unfavorable.;C.;$36,000 unfavorable.;D.;$75,000 unfavorable.;E.;$90,000 unfavorable.;111.;In September, Larson;Inc. sold 40,000 units of its only product for $240,000 and incurred a total;cost of $225,000, of which $25,000 is fixed costs. The flexible budget for;September showed total sales of $300,000. Among variances of the period were;total variable cost flexible-budget variance, $8,000U, total flexible-budget;variance, $63,000U, and, sales volume variance, in terms of contribution;margin, $27,000U. The master budget operating income for September was;A.;$78,000.;B.;$105,000.;C.;$108,000.;D.;$110,000.;E.;$135,000.;112. In;September, Larson Inc. sold 40,000 units of its only product for $240,000 and;incurred a total cost of $225,000, of which $25,000 is fixed costs. The;flexible budget for September showed total sales of $300,000. Among variances;of the period were: total variable cost flexible-budget variance, $8,000U;total flexible-budget variance, $63,000U, and, sales volume variance, in terms;of contribution margin, $27,000U. The total number of budgeted units reflected;in the master budget for September was;A.;36,000 units.;B.;40,000 units.;C.;45,000 units.;D.;48,000 units.;E.;50,000 units.;113. In;September, Larson Inc. sold 40,000 units of its only product for $240,000 and;incurred a total cost of $225,000, of which $25,000 is fixed costs. The;flexible budget for September showed total sales of $300,000. Among variances;of the period were: total variable cost flexible-budget variance, $8,000U;total flexible-budget variance, $63,000U, and, sales volume variance, in terms;of contribution margin, $27,000U. The total sales revenue in the master budget;for September was;A.;$300,000.;B.;$327,000.;C.;$350,000.;D.;$375,000.;E.;$425,000.;114. Shoemaker;Perkins Company uses a standard cost system and had 400 pounds of raw material;X15 on hand on September 1. The standard cost is $10 per pound. The standard;calls for 2 pounds of material X15 for each unit of the product manufactured.;The company manufactured 600 units of the product in September, and had 500;pounds of Material X-15 in stock on September 30. The actual price for Material;X-15 purchased during the month was $1 per pound below the standard cost. The material;usage variance in September was $3,000 unfavorable. What is the purchase-price;variance for Material X in September?;A.;$1,100 favorable.;B.;$1,200 favorable.;C.;$1,300 favorable.;D.;$1,500 favorable.;E.;$1,600 favorable.;115. Sheldon;Company manufactures only one product and uses a standard cost system. During;the past month, the manufacturing operations had the following variances;Direct labor rate variance = $30,000 Favorable. Direct labor efficiency;variance = $50,000 Unfavorable. Sheldon allows 5 standard direct labor hours;per unit produced, and its standard direct labor hourly rate is $50. During the;month, the company used 25 percent more direct labor hours than the standard;allowed. What was the direct labor flexible-budget (FB) variance for the month?;A.;$20,000 unfavorable.;B.;$25,000 unfavorable.;C.;$37,500 favorable.;D.;$62,500 unfavorable.;E.;$80,000 unfavorable.;116. Sheldon;Company manufactures only one product and uses a standard cost system. During;the past month, the manufacturing operations had the following variances;Direct labor rate variance = $30,000 Favorable, direct labor efficiency;variance = $50,000 Unfavorable. Sheldon allows 5 standard direct labor hours;per unit produced, and its standard direct labor hourly rate is $50. During the;month, the company used 25 percent more direct labor hours than the standard;allowed. What were the total standard hours allowed for the units manufactured;during the month?;A.;1,000.;B.;2,500.;C.;4,000.;D.;5,000.;E.;6,000.;117. Sheldon;Company manufactures only one product and uses a standard cost system. During;the past month, the manufacturing operations had the following variances;Direct labor rate variance $30,000 Favorable, direct labor efficiency variance;$50,000 Unfavorable. Sheldon allows 5 standard direct labor hours per unit;produced, and its standard direct labor hourly rate is $50. During the month;the company used 25 percent more direct labor hours than the standard allowed.;What were the total actual direct hours worked?;A.;1,000.;B.;3,000.;C.;4,000.;D.;5,000.;E.;6,000.;118.Sheldon Company;manufactures only one product and uses a standard cost system. During the past;month, the manufacturing operations had the following variances: Direct labor;rate variance = $30,000 Favorable, direct labor efficiency variance = $50,000;Unfavorable. Sheldon allows 5 standard direct labor hours per unit produced;and its standard direct labor hourly rate is $50. During the month, the;company;used 25 percent more direct labor hours than the standard allowed. What was the;actual hourly rate for direct labor?;A.;$30.;B.;$36.;C.;$44.;D.;$50.;E.;$56.;119. Sheldon;Company manufactures only one product and uses a standard cost system. During;the past month, the manufacturing operations had the following variances;Direct labor rate variance $30,000 Favorable. Direct labor efficiency variance;50,000 Unfavorable Sheldon allows 5 standard direct labor hours per unit;produced, and its standard direct labor hourly rate is $50. During the month;the company used 25 percent more direct labor hours than the standard allowed.;How many units of the product were produced during the past month?;A.;800.;B.;1,000.;C.;1,200.;D.;1,500.;E.;2,000.;120. Ventura;uses a just-in-time (JIT) manufacturing system for all of its materials;components, and products. The master budget of the company for June called for;use of 11,000 square feet of materials, while the flexible budget for the;actual output of the month had 10,000 square feet of materials at a standard;cost of $9.60 per square foot. Company records show that the actual price paid;for the materials used in June was $9.50 per square foot, and that the direct;materials purchase-price variance for the month was $1,040.;The actual total;quantity of materials purchased during the month was;A.;10,000 square feet.;B.;10,400 square feet.;C.;11,000 square feet.;D.;13,840 square feet.;E.;14,880 square feet.

Paper#45009 | Written in 18-Jul-2015

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