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Question;121;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 materials usage;(quantity) variance for June was;A.;$3,800 unfavorable.;B.;$3,840 unfavorable.;C.;$5,700 unfavorable.;D.;$5,760 unfavorable.;E.;$8,560 favorable.;122.;Pokeman Bunch Inc., manufactures PokeMonster figures and has the following data;from its operation for the year just completed.;The column;heading identified as A is;A.;Selling price variance.;B.;Efficiency variance.;C.;Flexible-budget (FB);variances.;D.;Sales-volume variance.;E.;Production-volume;variance.;123.;Pokeman Bunch Inc., manufactures PokeMonster figures and has the following data;from its operation for the year just completed.;The column;heading identified as B is;A.;Selling price variance.;B.;Efficiency variance.;C.;Flexible-budget (FB);variances.;D.;Sales-volume variance.;E.;Production-volume;variance.;124.;Pokeman Bunch Inc., manufactures PokeMonster figures and has the following data;from its operation for the year just completed.;The amount C;is;A.;$72,000.;B.;$74,400.;C.;$75,000.;D.;$90,000.;E.;$111,000.;125.;Pokeman Bunch Inc., manufactures PokeMonster figures and has the following data;from its operation for the year just completed.;The amount D;is;A.;$12,000.;B.;$15,000.;C.;$16,500.;D.;$18,000.;E.;$33,000.;126.;Pokeman Bunch Inc., manufactures PokeMonster figures and has the following data;from its operation for the year just completed.;The amount E;is;A.;$61,500.;B.;$76,500.;C.;$79,500.;D.;$88,500.;E.;$91,500.;127.;Pokeman Bunch Inc., manufactures PokeMonster figures and has the following data;from its operation for the year just completed.;The amount F;is;A.;$4,500.;B.;$6,000.;C.;$7,500.;D.;$9,000.;E.;$10,000.;128.;Pokeman;Bunch Inc., manufactures PokeMonster figures and has the following data from;its operation for the year just completed.;The total;operating-income variance is;A.;$500 favorable.;B.;$1,500 unfavorable.;C.;$1,500 favorable.;D.;$2,500 unfavorable.;E.;$3,000 favorable.;129.;Pokeman Bunch Inc., manufactures PokeMonster figures and has the following data;from its operation for the year just completed.;The sales-volume;variance in terms of operating income is;A.;$500 favorable.;B.;$1,500 unfavorable.;C.;$1,500 favorable.;D.;$2,500 unfavorable.;E.;$3,000 favorable.;130. Precilla;Company uses a standard costing system that allows 2 pounds of direct materials;for one finished unit. During July, the company purchased 40,000 pounds of;direct materials for $210,000 and manufactured 12,000 finished units. The;standard direct materials cost allowed for the units manufactured is $120,000.;The performance report shows that Pricilla has an unfavorable direct materials;usage variance of $5,000. Also, the company records any price variance for;materials at time of purchase.;Precilla's standard;price per pound of direct materials is;A.;$4.00.;B.;$5.00.;C.;$6.00.;D.;$10.00.;E.;$12.00.;131. Precilla;Company uses a standard costing system that allows 2 pounds of direct materials;for one finished unit. During July, the company purchased 40,000 pounds of;direct materials for $210,000 and manufactured 12,000 finished units. The;standard direct materials cost allowed for the units manufactured is $120,000.;The performance report shows that Pricilla has an unfavorable direct materials;usage variance of $5,000. Also, the company records any price variance for;materials at time of purchase.;The number of pounds of;direct materials used to produce July's output was;A.;12,000 pounds.;B.;20,000 pounds.;C.;24,000 pounds.;D.;25,000 pounds.;E.;40,000 pounds.;132. Precilla;Company uses a standard costing system that allows 2 pounds of direct materials;for one finished unit. During July, the company purchased 40,000 pounds of;direct materials for $210,000 and manufactured 12,000 finished units. The;standard direct materials cost allowed for the units manufactured is $120,000.;The performance report shows that Pricilla has an unfavorable direct materials;usage variance of $5,000. Also, the company records any price variance for;materials at time of purchase.;The direct materials;purchase-price variance in July is;A.;$10,000 unfavorable.;B.;$50,000 unfavorable.;C.;$80,000 unfavorable.;D.;$86,000 unfavorable.;E.;$90,000 unfavorable.;133. Ally;Mfg. uses a standard cost system and its July production of 1,800 units;involved actual direct labor costs of $242,000 for 5,500 hours worked. The;budget for July called for production of 2,000 units with 6,000 direct labor;hours at $40.00 per hour.;Ally's direct labor rate;variance for July is;A.;$2,000 unfavorable.;B.;$4,000 unfavorable.;C.;$20,000 favorable.;D.;$22,000 unfavorable.;E.;$26,000 unfavorable.;134.;Ally Mfg. uses a standard cost system and its July production of 1,800 units;involved actual direct labor costs of $242,000 for 5,500;hours worked. The budget for July called;for production of 2,000 units with 6,000 direct labor hours at $40.00 per hour.;Ally's direct labor efficiency variance for July is;A.;$2,000 unfavorable.;B.;$4,000 unfavorable.;C.;$20,000 favorable.;D.;$22,000 unfavorable.;E.;$26,000 unfavorable.;135.;Roncy Manufacturing uses;enhanced powder plastics (EPP) to manufacture high-pressure boards;Dura-Plastic. Information concerning its operation in June was as follows;The standard;cost per ounce of EPP is;A.;$6.22.;B.;$6.30.;C.;$6.65.;D.;$6.84.;E.;Greater than $7.00.;136.;Roncy Manufacturing uses;enhanced powder plastics (EPP) to manufacture high-pressure boards;Dura-Plastic. Information concerning its operation in June was as follows;The direct;materials usage (efficiency) variance for June was;A.;$13,300 unfavorable.;B.;$26,600 unfavorable.;C.;$29,925 unfavorable.;D.;$34,020 unfavorable.;137.;Roncy Manufacturing uses;enhanced powder plastics (EPP) to manufacture high-pressure boards;Dura-Plastic. Information concerning its operation in June was as follows;The direct;materials purchase-price variance is for June was;A.;$63,700 unfavorable.;B.;$65,520 unfavorable.;C.;$69,160 unfavorable.;D.;$95,760 unfavorable.;138.;Luanna Inc. manufactures;game consoles. Some of the company's data was misplaced. Use the following;information to replace the lost data.;The amount A;is;A.;$102,080.;B.;$103,440.;C.;$105,600.;D.;$108,000.;139.;Luanna Inc. manufactures;game consoles. Some of the company's data was misplaced. Use the following;information to replace the lost data.;The amount B;is;A.;$100,300.;B.;$102,000.;C.;$103,440.;D.;$105,600.;140.;Luanna Inc. manufactures;game consoles. Some of the company's data was misplaced. Use the following;information to replace the lost data.;The amount C;is;A.;$38,790.;B.;$59,490.;C.;$65,050.;D.;$83,140.

 

Paper#45010 | Written in 18-Jul-2015

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