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Bulluck Corporation makes a product with the following standard costs: Bulluck Corporation makes a product with the following standard costs: The company reported the following results concerning this product in July. 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 October is: A) $52,500 Unfavorable B) $52,500 Favorable C) $12,500 Unfavorable D) $12,500 Favorable The company reported the following results concerning this product in July. Bulluck Corporation makes a product with the following standard costs: The company reported the following results concerning this product in July. 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 October is: A) $52,500 Unfavorable B) $52,500 Favorable C) $12,500 Unfavorable D) $12,500 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 October is:


A) $52,500 Unfavorable
B) $52,500 Favorable
C) $12,500 Unfavorable
D) $12,500 Favorable

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

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Bulluck Corporation makes a product with the following standard costs: Bulluck Corporation makes a product with the following standard costs: The company reported the following results concerning this product in July. 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 October is: A) $15,000 Unfavorable B) $15,000 Favorable C) $25,000 Unfavorable D) $25,000 Favorable The company reported the following results concerning this product in July. Bulluck Corporation makes a product with the following standard costs: The company reported the following results concerning this product in July. 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 October is: A) $15,000 Unfavorable B) $15,000 Favorable C) $25,000 Unfavorable D) $25,000 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 price variance for October is:


A) $15,000 Unfavorable
B) $15,000 Favorable
C) $25,000 Unfavorable
D) $25,000 Favorable

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

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A manufacturing company that has only one product has established the following standards for its variable manufacturing overhead. The company bases its variable manufacturing overhead standards on direct labor-hours. A manufacturing company that has only one product has established the following standards for its variable manufacturing overhead. The company bases its variable manufacturing overhead standards on direct labor-hours. The following data pertain to operations for the last month: -The variable overhead efficiency variance for January is: A) $320 F B) $316 U C) $320 U D) $316 F The following data pertain to operations for the last month: A manufacturing company that has only one product has established the following standards for its variable manufacturing overhead. The company bases its variable manufacturing overhead standards on direct labor-hours. The following data pertain to operations for the last month: -The variable overhead efficiency variance for January is: A) $320 F B) $316 U C) $320 U D) $316 F -The variable overhead efficiency variance for January is:


A) $320 F
B) $316 U
C) $320 U
D) $316 F

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

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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 labor efficiency variance for February is: A) $650 U B) $650 F C) $620 F D) $620 U 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 labor efficiency variance for February is: A) $650 U B) $650 F C) $620 F D) $620 U 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 efficiency variance for February is:


A) $650 U
B) $650 F
C) $620 F
D) $620 U

E) None of the above
F) All of the above

Correct Answer

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A manufacturing company that has only one product has established the following standards for its variable manufacturing overhead. The company bases its variable manufacturing overhead standards on direct labor-hours. A manufacturing company that has only one product has established the following standards for its variable manufacturing overhead. The company bases its variable manufacturing overhead standards on direct labor-hours. The following data pertain to operations for the last month: -What is the variable overhead efficiency variance for the month? A) $11,076 U B) $11,037 F C) $11,037 U D) $216 U The following data pertain to operations for the last month: A manufacturing company that has only one product has established the following standards for its variable manufacturing overhead. The company bases its variable manufacturing overhead standards on direct labor-hours. The following data pertain to operations for the last month: -What is the variable overhead efficiency variance for the month? A) $11,076 U B) $11,037 F C) $11,037 U D) $216 U -What is the variable overhead efficiency variance for the month?


A) $11,076 U
B) $11,037 F
C) $11,037 U
D) $216 U

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

Correct Answer

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Kartman Corporation makes a product with the following standard costs: Kartman Corporation makes a product with the following standard costs: In June the company's budgeted production was 3,400 units but the actual production was 3,500 units. The company used 22,150 pounds of the direct material and 2,290 direct labor-hours to produce this output. During the month, the company purchased 25,400 pounds of the direct material at a cost of $170,180. The actual direct labor cost was $57,021 and the actual variable overhead cost was $8,931. 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 efficiency variance for June is: A) $760 F B) $760 U C) $741 F D) $741 U In June the company's budgeted production was 3,400 units but the actual production was 3,500 units. The company used 22,150 pounds of the direct material and 2,290 direct labor-hours to produce this output. During the month, the company purchased 25,400 pounds of the direct material at a cost of $170,180. The actual direct labor cost was $57,021 and the actual variable overhead cost was $8,931. 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 efficiency variance for June is:


A) $760 F
B) $760 U
C) $741 F
D) $741 U

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

Correct Answer

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Bulluck Corporation makes a product with the following standard costs: Bulluck Corporation makes a product with the following standard costs: The company reported the following results concerning this product in July. 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 efficiency variance for July is: A) $380 F B) $399 U C) $380 U D) $399 F The company reported the following results concerning this product in July. Bulluck Corporation makes a product with the following standard costs: The company reported the following results concerning this product in July. 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 efficiency variance for July is: A) $380 F B) $399 U C) $380 U D) $399 F 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 efficiency variance for July is:


A) $380 F
B) $399 U
C) $380 U
D) $399 F

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

Correct Answer

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Wadding Corporation applies manufacturing overhead to products on the basis of standard machine-hours.For the most recent month,the company based its budget on 3,600 machine-hours.Budgeted and actual overhead costs for the month appear below: Wadding Corporation applies manufacturing overhead to products on the basis of standard machine-hours.For the most recent month,the company based its budget on 3,600 machine-hours.Budgeted and actual overhead costs for the month appear below: The company actually worked 3,900 machine-hours during the month.The standard hours allowed for the actual output were 3,890 machine-hours for the month.What was the overall variable overhead efficiency variance for the month? A) $760 Favorable B) $104 Unfavorable C) $180 Favorable D) $656 Favorable The company actually worked 3,900 machine-hours during the month.The standard hours allowed for the actual output were 3,890 machine-hours for the month.What was the overall variable overhead efficiency variance for the month?


A) $760 Favorable
B) $104 Unfavorable
C) $180 Favorable
D) $656 Favorable

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

Correct Answer

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The materials price variance for January is:


A) $2,482 F
B) $2,740 U
C) $2,482 U
D) $2,740 F

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

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Amirault Manufacturing Corporation has a standard cost system in which it applies manufacturing overhead to products on the basis of standard machine-hours (MHs) at $4.00 per MH.During the month,the actual total variable manufacturing overhead was $18,040 and the actual level of activity for the period was 4,100 MHs.What was the variable overhead rate variance for the month?


A) $410 Favorable
B) $1,640 Unfavorable
C) $1,640 Favorable
D) $410 Unfavorable

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

Correct Answer

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Milar Corporation makes a product with the following standard costs: Milar Corporation makes a product with the following standard costs: In January the company produced 2,000 units using 16,060 pounds of the direct material and 210 direct labor-hours. During the month, the company purchased 16,900 pounds of the direct material at a cost of $65,910. The actual direct labor cost was $4,473 and the actual variable overhead cost was $756. 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 efficiency variance for January is: A) $200 U B) $213 U C) $200 F D) $213 F In January the company produced 2,000 units using 16,060 pounds of the direct material and 210 direct labor-hours. During the month, the company purchased 16,900 pounds of the direct material at a cost of $65,910. The actual direct labor cost was $4,473 and the actual variable overhead cost was $756. 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 efficiency variance for January is:


A) $200 U
B) $213 U
C) $200 F
D) $213 F

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

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Dibert Inc. has provided the following data concerning one of the products in its standard cost system. Dibert Inc. has provided the following data concerning one of the products in its standard cost system. The company has reported the following actual results for the product for February: -The labor rate variance for the month is closest to: A) $5,746 U B) $6,069 F C) $5,746 F D) $6,069 U The company has reported the following actual results for the product for February: Dibert Inc. has provided the following data concerning one of the products in its standard cost system. The company has reported the following actual results for the product for February: -The labor rate variance for the month is closest to: A) $5,746 U B) $6,069 F C) $5,746 F D) $6,069 U -The labor rate variance for the month is closest to:


A) $5,746 U
B) $6,069 F
C) $5,746 F
D) $6,069 U

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

Correct Answer

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Valera Corporation makes a product with the following standards for labor and variable overhead: Valera Corporation makes a product with the following standards for labor and variable overhead: The company budgeted for production of 5,300 units in July, but actual production was 5,400 units. The company used 2,130 direct labor-hours to produce this output. The actual variable overhead rate was $6.10 per hour. The company applies variable overhead on the basis of direct labor-hours. -The variable overhead rate variance for July is: A) $213 F B) $216 F C) $216 U D) $213 U The company budgeted for production of 5,300 units in July, but actual production was 5,400 units. The company used 2,130 direct labor-hours to produce this output. The actual variable overhead rate was $6.10 per hour. The company applies variable overhead on the basis of direct labor-hours. -The variable overhead rate variance for July is:


A) $213 F
B) $216 F
C) $216 U
D) $213 U

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

Correct Answer

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Fluegge Inc. 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 Inc. 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 labor efficiency variance for the month is closest to: A) $3,604 U B) $3,604 F C) $3,502 F D) $3,502 U The company has reported the following actual results for the product for December: Fluegge Inc. 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 labor efficiency variance for the month is closest to: A) $3,604 U B) $3,604 F C) $3,502 F D) $3,502 U -The labor efficiency variance for the month is closest to:


A) $3,604 U
B) $3,604 F
C) $3,502 F
D) $3,502 U

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

Correct Answer

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Bressman Inc. 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. Bressman Inc. 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 May: -The variable overhead rate variance for the month is closest to: A) $364 U B) $372 F C) $364 F D) $372 U The company has reported the following actual results for the product for May: Bressman Inc. 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 May: -The variable overhead rate variance for the month is closest to: A) $364 U B) $372 F C) $364 F D) $372 U -The variable overhead rate variance for the month is closest to:


A) $364 U
B) $372 F
C) $364 F
D) $372 U

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

Correct Answer

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Milar Corporation makes a product with the following standard costs: Milar Corporation makes a product with the following standard costs: In January the company produced 2,000 units using 16,060 pounds of the direct material and 210 direct labor-hours. During the month, the company purchased 16,900 pounds of the direct material at a cost of $65,910. The actual direct labor cost was $4,473 and the actual variable overhead cost was $756. 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 efficiency variance for January is: A) $36 U B) $40 F C) $36 F D) $40 U In January the company produced 2,000 units using 16,060 pounds of the direct material and 210 direct labor-hours. During the month, the company purchased 16,900 pounds of the direct material at a cost of $65,910. The actual direct labor cost was $4,473 and the actual variable overhead cost was $756. 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 efficiency variance for January is:


A) $36 U
B) $40 F
C) $36 F
D) $40 U

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

Correct Answer

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The Fime Corporation uses a standard costing system.The following data have been assembled for December: The Fime Corporation uses a standard costing system.The following data have been assembled for December: The standard hours allowed for December's production is: A) 5,900 hours B) 6,500 hours C) 6,200 hours D) 6,000 hours The standard hours allowed for December's production is:


A) 5,900 hours
B) 6,500 hours
C) 6,200 hours
D) 6,000 hours

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

Correct Answer

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When more hours of labor time are necessary to complete a job than the standard allows,the labor efficiency variance is unfavorable.

A) True
B) False

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The general model for calculating a quantity variance is:


A) Actual quantity of inputs used × (Actual price − Standard price) .
B) Standard price × (Actual quantity of inputs used − Standard quantity allowed for output) .
C) (Actual quantity of inputs used × Actual price) − (Standard quantity allowed for output × Standard price) .
D) Actual price × (Actual quantity of inputs used − Standard quantity allowed for output) .

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

Correct Answer

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Warp Manufacturing Corporation uses a standard cost system for the production of its ski lift chairs.Warp uses machine-hours as an overhead base.The variable manufacturing overhead standards for each chair are 1.2 machine-hours at a standard cost of $18 per hour. During the month of September,Warp incurred 34,000 machine-hours in the production of 32,000 ski lift chairs.The total variable manufacturing overhead cost was $649,400.What is Warp's variable overhead rate variance for September?


A) $37,400 Unfavorable
B) $41,800 Favorable
C) $79,200 Favorable
D) $84,040 Favorable

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

Correct Answer

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