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Holl Corporation has provided the following data for November. Holl Corporation has provided the following data for November. Required: a. Compute the budget variance for November. b. Compute the volume variance for November. Required: a. Compute the budget variance for November. b. Compute the volume variance for November.

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a. Budget variance = Actual fixed manufa...

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The following materials standards have been established for a particular product: The following materials standards have been established for a particular product: The following data pertain to operations concerning the product for the last month: What is the materials quantity variance for the month? A) $9,940 Unfavorable B) $15,351 Unfavorable C) $14,484 Unfavorable D) $10,535 Unfavorable The following data pertain to operations concerning the product for the last month: The following materials standards have been established for a particular product: The following data pertain to operations concerning the product for the last month: What is the materials quantity variance for the month? A) $9,940 Unfavorable B) $15,351 Unfavorable C) $14,484 Unfavorable D) $10,535 Unfavorable What is the materials quantity variance for the month?


A) $9,940 Unfavorable
B) $15,351 Unfavorable
C) $14,484 Unfavorable
D) $10,535 Unfavorable

E) A) and D)
F) A) and C)

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The standard price per unit for direct materials should reflect the final, delivered cost of the materials.

A) True
B) False

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Miguez Corporation makes a product with the following standard costs: Miguez Corporation makes a product with the following standard costs: The company budgeted for production of 2,600 units in September, but actual production was 2,500 units. The company used 5,440 liters of direct material and 1,680 direct labor-hours to produce this output. The company purchased 5,800 liters of the direct material at $7.20 per liter. The actual direct labor rate was $24.10 per hour and the actual variable overhead rate was $1.90 per hour.The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.The variable overhead rate variance for September is: A) $175 Favorable B) $168 Unfavorable C) $168 Favorable D) $175 Unfavorable The company budgeted for production of 2,600 units in September, but actual production was 2,500 units. The company used 5,440 liters of direct material and 1,680 direct labor-hours to produce this output. The company purchased 5,800 liters of the direct material at $7.20 per liter. The actual direct labor rate was $24.10 per hour and the actual variable overhead rate was $1.90 per hour.The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.The variable overhead rate variance for September is:


A) $175 Favorable
B) $168 Unfavorable
C) $168 Favorable
D) $175 Unfavorable

E) A) and B)
F) A) and C)

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Handerson Corporation makes a product with the following standard costs: Handerson Corporation makes a product with the following standard costs: The company reported the following results concerning this product in August. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.The materials price variance for August is: A) $5,440 Favorable B) $6,320 Favorable C) $5,440 Unfavorable D) $6,320 Unfavorable The company reported the following results concerning this product in August. Handerson Corporation makes a product with the following standard costs: The company reported the following results concerning this product in August. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.The materials price variance for August is: A) $5,440 Favorable B) $6,320 Favorable C) $5,440 Unfavorable D) $6,320 Unfavorable The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.The materials price variance for August is:


A) $5,440 Favorable
B) $6,320 Favorable
C) $5,440 Unfavorable
D) $6,320 Unfavorable

E) B) and D)
F) B) and C)

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Kita Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company's only product is as follows: Kita Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company's only product is as follows: During the year, the company assigned direct labor costs to work in process. The direct labor workers (who were paid in cash) worked 24,820 hours at an average cost of $21.20 per hour.Assume that all transactions are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it fits on one page. The beginning balances in each of the accounts have been given. PP&E (net) stands for Property, Plant, and Equipment net of depreciation. When recording the direct labor costs, the Work in Process inventory account will increase (decrease) by: A) $526,184 B) ($514,960) C) ($526,184) D) $514,960 During the year, the company assigned direct labor costs to work in process. The direct labor workers (who were paid in cash) worked 24,820 hours at an average cost of $21.20 per hour.Assume that all transactions are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it fits on one page. The beginning balances in each of the accounts have been given. PP&E (net) stands for Property, Plant, and Equipment net of depreciation. Kita Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company's only product is as follows: During the year, the company assigned direct labor costs to work in process. The direct labor workers (who were paid in cash) worked 24,820 hours at an average cost of $21.20 per hour.Assume that all transactions are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it fits on one page. The beginning balances in each of the accounts have been given. PP&E (net) stands for Property, Plant, and Equipment net of depreciation. When recording the direct labor costs, the Work in Process inventory account will increase (decrease) by: A) $526,184 B) ($514,960) C) ($526,184) D) $514,960 When recording the direct labor costs, the Work in Process inventory account will increase (decrease) by:


A) $526,184
B) ($514,960)
C) ($526,184)
D) $514,960

E) All of the above
F) A) and B)

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The following labor standards have been established for a particular product: The following labor standards have been established for a particular product: The following data pertain to operations concerning the product for the last month: What is the labor rate variance for the month? A) $450 Favorable B) $3,915 Favorable C) $3,915 Unfavorable D) $450 Unfavorable The following data pertain to operations concerning the product for the last month: The following labor standards have been established for a particular product: The following data pertain to operations concerning the product for the last month: What is the labor rate variance for the month? A) $450 Favorable B) $3,915 Favorable C) $3,915 Unfavorable D) $450 Unfavorable What is the labor rate variance for the month?


A) $450 Favorable
B) $3,915 Favorable
C) $3,915 Unfavorable
D) $450 Unfavorable

E) B) and C)
F) B) and D)

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Dirickson Incorporated has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. Dirickson Incorporated has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. The company has reported the following actual results for the product for July: The raw materials quantity variance for the month is closest to: A) $86 Unfavorable B) $86 Favorable C) $94 Unfavorable D) $94 Favorable The company has reported the following actual results for the product for July: Dirickson Incorporated has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. The company has reported the following actual results for the product for July: The raw materials quantity variance for the month is closest to: A) $86 Unfavorable B) $86 Favorable C) $94 Unfavorable D) $94 Favorable The raw materials quantity variance for the month is closest to:


A) $86 Unfavorable
B) $86 Favorable
C) $94 Unfavorable
D) $94 Favorable

E) A) and D)
F) A) and C)

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If the actual hourly rate is greater than the standard hourly rate, the labor rate variance is labeled unfavorable (U).

A) True
B) False

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Pyrdum Corporation produces metal telephone poles. In the most recent month, the company budgeted production of 3,500 poles. Actual production was 3,800 poles. According to standards, each pole requires 4.6 machine-hours. The actual machine-hours for the month were 17,800 machine-hours. The standard variable manufacturing overhead rate is $5.40 per machine-hour. The actual variable manufacturing overhead cost for the month was $96,712. The variable overhead efficiency variance is:


A) $2,320 Unfavorable
B) $1,728 Favorable
C) $2,320 Favorable
D) $1,728 Unfavorable

E) A) and B)
F) None of the above

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Majer Corporation makes a product with the following standard costs: Majer Corporation makes a product with the following standard costs: The company reported the following results concerning this product in February. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.The materials quantity variance for February is: A) $8,100 Favorable B) $8,037 Favorable C) $8,100 Unfavorable D) $8,037 Unfavorable The company reported the following results concerning this product in February. Majer Corporation makes a product with the following standard costs: The company reported the following results concerning this product in February. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.The materials quantity variance for February is: A) $8,100 Favorable B) $8,037 Favorable C) $8,100 Unfavorable D) $8,037 Unfavorable The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.The materials quantity variance for February is:


A) $8,100 Favorable
B) $8,037 Favorable
C) $8,100 Unfavorable
D) $8,037 Unfavorable

E) None of the above
F) A) and C)

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Tharaldson Corporation makes a product with the following standard costs: Tharaldson Corporation makes a product with the following standard costs: The company reported the following results concerning this product in June. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.The labor rate variance for June is: A) $616 Favorable B) $616 Unfavorable C) $550 Favorable D) $550 Unfavorable The company reported the following results concerning this product in June. Tharaldson Corporation makes a product with the following standard costs: The company reported the following results concerning this product in June. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.The labor rate variance for June is: A) $616 Favorable B) $616 Unfavorable C) $550 Favorable D) $550 Unfavorable The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.The labor rate variance for June is:


A) $616 Favorable
B) $616 Unfavorable
C) $550 Favorable
D) $550 Unfavorable

E) B) and C)
F) A) and D)

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Miguez Corporation makes a product with the following standard costs: Miguez Corporation makes a product with the following standard costs: The company budgeted for production of 2,600 units in September, but actual production was 2,500 units. The company used 5,440 liters of direct material and 1,680 direct labor-hours to produce this output. The company purchased 5,800 liters of the direct material at $7.20 per liter. The actual direct labor rate was $24.10 per hour and the actual variable overhead rate was $1.90 per hour.The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.The labor rate variance for September is: A) $3,675 Favorable B) $3,528 Unfavorable C) $3,528 Favorable D) $3,675 Unfavorable The company budgeted for production of 2,600 units in September, but actual production was 2,500 units. The company used 5,440 liters of direct material and 1,680 direct labor-hours to produce this output. The company purchased 5,800 liters of the direct material at $7.20 per liter. The actual direct labor rate was $24.10 per hour and the actual variable overhead rate was $1.90 per hour.The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.The labor rate variance for September is:


A) $3,675 Favorable
B) $3,528 Unfavorable
C) $3,528 Favorable
D) $3,675 Unfavorable

E) A) and B)
F) A) and C)

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Lakatos Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company's only product contains the following information concerning direct materials: Lakatos Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company's only product contains the following information concerning direct materials: During the year, the company completed the following transactions concerning direct materials:a. Purchased 151,800 kilos of raw material at a price of $9.70 per kilo.b. Used 140,870 kilos of the raw material to produce 38,100 units of work in process.The company calculated the following direct materials variances for the year: Assume that all transactions are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it fits on one page. The beginning balances in each of the accounts have been given. PP&E (net) stands for Property, Plant, and Equipment net of depreciation. When recording the raw materials used in production in transaction (b) above, the Raw Materials inventory account will increase (decrease) by: A) $1,366,439 B) $1,267,830 C) ($1,366,439) D) ($1,267,830) During the year, the company completed the following transactions concerning direct materials:a. Purchased 151,800 kilos of raw material at a price of $9.70 per kilo.b. Used 140,870 kilos of the raw material to produce 38,100 units of work in process.The company calculated the following direct materials variances for the year: Lakatos Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company's only product contains the following information concerning direct materials: During the year, the company completed the following transactions concerning direct materials:a. Purchased 151,800 kilos of raw material at a price of $9.70 per kilo.b. Used 140,870 kilos of the raw material to produce 38,100 units of work in process.The company calculated the following direct materials variances for the year: Assume that all transactions are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it fits on one page. The beginning balances in each of the accounts have been given. PP&E (net) stands for Property, Plant, and Equipment net of depreciation. When recording the raw materials used in production in transaction (b) above, the Raw Materials inventory account will increase (decrease) by: A) $1,366,439 B) $1,267,830 C) ($1,366,439) D) ($1,267,830) Assume that all transactions are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it fits on one page. The beginning balances in each of the accounts have been given. PP&E (net) stands for Property, Plant, and Equipment net of depreciation. Lakatos Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company's only product contains the following information concerning direct materials: During the year, the company completed the following transactions concerning direct materials:a. Purchased 151,800 kilos of raw material at a price of $9.70 per kilo.b. Used 140,870 kilos of the raw material to produce 38,100 units of work in process.The company calculated the following direct materials variances for the year: Assume that all transactions are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it fits on one page. The beginning balances in each of the accounts have been given. PP&E (net) stands for Property, Plant, and Equipment net of depreciation. When recording the raw materials used in production in transaction (b) above, the Raw Materials inventory account will increase (decrease) by: A) $1,366,439 B) $1,267,830 C) ($1,366,439) D) ($1,267,830) When recording the raw materials used in production in transaction (b) above, the Raw Materials inventory account will increase (decrease) by:


A) $1,366,439
B) $1,267,830
C) ($1,366,439)
D) ($1,267,830)

E) None of the above
F) A) and D)

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Fluegge Incorporated has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. Fluegge Incorporated has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. The company has reported the following actual results for the product for December: The variable overhead efficiency variance for the month is closest to: A) $1,003 Unfavorable B) $935 Unfavorable C) $1,003 Favorable D) $935 Favorable The company has reported the following actual results for the product for December: Fluegge Incorporated has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. The company has reported the following actual results for the product for December: The variable overhead efficiency variance for the month is closest to: A) $1,003 Unfavorable B) $935 Unfavorable C) $1,003 Favorable D) $935 Favorable The variable overhead efficiency variance for the month is closest to:


A) $1,003 Unfavorable
B) $935 Unfavorable
C) $1,003 Favorable
D) $935 Favorable

E) A) and C)
F) C) and D)

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Jungman Incorporated has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. Jungman Incorporated has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. The company produced 4,600 units of this product in November. Required: a. What is the total standard cost of one unit of this product? b. What was the standard ounces allowed for the actual output of this product in November? c. What was the standard hours allowed for the actual output of this product in November? The company produced 4,600 units of this product in November. Required: a. What is the total standard cost of one unit of this product? b. What was the standard ounces allowed for the actual output of this product in November? c. What was the standard hours allowed for the actual output of this product in November?

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a.
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b. Standard quantity = 4,...

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Motts Incorporated has a standard cost system in which the standard direct labor for a particular product is 0.50 hours at the standard rate of $21.00 per hour. The company has reported the following actual results for the product for October: Motts Incorporated has a standard cost system in which the standard direct labor for a particular product is 0.50 hours at the standard rate of $21.00 per hour. The company has reported the following actual results for the product for October: Required:a. Compute the labor rate variance for October.b. Compute the labor efficiency variance for October. Required:a. Compute the labor rate variance for October.b. Compute the labor efficiency variance for October.

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a. Labor rate variance = (Actual hours ×...

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Lakatos Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company's only product contains the following information concerning direct materials: Lakatos Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company's only product contains the following information concerning direct materials: During the year, the company completed the following transactions concerning direct materials:a. Purchased 151,800 kilos of raw material at a price of $9.70 per kilo.b. Used 140,870 kilos of the raw material to produce 38,100 units of work in process.The company calculated the following direct materials variances for the year: Assume that all transactions are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it fits on one page. The beginning balances in each of the accounts have been given. PP&E (net) stands for Property, Plant, and Equipment net of depreciation. When recording the raw materials used in production in transaction (b) above, the Work in Process inventory account will increase (decrease) by: A) $1,267,830 B) $1,268,730 C) ($1,267,830) D) ($1,268,730) During the year, the company completed the following transactions concerning direct materials:a. Purchased 151,800 kilos of raw material at a price of $9.70 per kilo.b. Used 140,870 kilos of the raw material to produce 38,100 units of work in process.The company calculated the following direct materials variances for the year: Lakatos Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company's only product contains the following information concerning direct materials: During the year, the company completed the following transactions concerning direct materials:a. Purchased 151,800 kilos of raw material at a price of $9.70 per kilo.b. Used 140,870 kilos of the raw material to produce 38,100 units of work in process.The company calculated the following direct materials variances for the year: Assume that all transactions are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it fits on one page. The beginning balances in each of the accounts have been given. PP&E (net) stands for Property, Plant, and Equipment net of depreciation. When recording the raw materials used in production in transaction (b) above, the Work in Process inventory account will increase (decrease) by: A) $1,267,830 B) $1,268,730 C) ($1,267,830) D) ($1,268,730) Assume that all transactions are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it fits on one page. The beginning balances in each of the accounts have been given. PP&E (net) stands for Property, Plant, and Equipment net of depreciation. Lakatos Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company's only product contains the following information concerning direct materials: During the year, the company completed the following transactions concerning direct materials:a. Purchased 151,800 kilos of raw material at a price of $9.70 per kilo.b. Used 140,870 kilos of the raw material to produce 38,100 units of work in process.The company calculated the following direct materials variances for the year: Assume that all transactions are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it fits on one page. The beginning balances in each of the accounts have been given. PP&E (net) stands for Property, Plant, and Equipment net of depreciation. When recording the raw materials used in production in transaction (b) above, the Work in Process inventory account will increase (decrease) by: A) $1,267,830 B) $1,268,730 C) ($1,267,830) D) ($1,268,730) When recording the raw materials used in production in transaction (b) above, the Work in Process inventory account will increase (decrease) by:


A) $1,267,830
B) $1,268,730
C) ($1,267,830)
D) ($1,268,730)

E) B) and D)
F) All of the above

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Hykes Corporation's manufacturing overhead includes $5.10 per machine-hour for supplies; $5.10 per machine-hour for indirect labor; $62,800 per period for salaries; and $59,560 per period for depreciation.Required: Determine the predetermined overhead rate if the denominator level of activity is 3,800 machine-hours. (Round your answer to 2 decimal places.)

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Estimated total manufacturing overhead c...

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Tharaldson Corporation makes a product with the following standard costs: Tharaldson Corporation makes a product with the following standard costs: The company reported the following results concerning this product in June. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.The materials quantity variance for June is: A) $5,000 Favorable B) $2,301 Unfavorable C) $5,000 Unfavorable D) $2,301 Favorable The company reported the following results concerning this product in June. Tharaldson Corporation makes a product with the following standard costs: The company reported the following results concerning this product in June. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.The materials quantity variance for June is: A) $5,000 Favorable B) $2,301 Unfavorable C) $5,000 Unfavorable D) $2,301 Favorable The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.The materials quantity variance for June is:


A) $5,000 Favorable
B) $2,301 Unfavorable
C) $5,000 Unfavorable
D) $2,301 Favorable

E) B) and D)
F) A) and C)

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