Reference no: EM13905655
1. The standard rate of pay is $20 per direct labor hour. If the actual direct labor payroll was $117,600 for 6,000 direct labor hours worked, the direct labor rate variance is
$3,000 unfavorable.
$2,400 favorable.
$2,400 unfavorable.
$3,000 favorable.
2. A favorable variance
is an indication that the company is not operating in an optimal manner.
means that standards are too loosely specified.
implies a positive result if quality control standards are met.
implies a positive result if standards are flexible.
3. The total materials variance is equal to the
sum of the materials price variance and the materials usage variance.
difference between the materials price variance and materials usage variance.
product of the materials price variance and the materials usage variance.
materials price variance.
4. Casey Company has a materials price standard of $2.10 per pound. Six thousand pounds of materials were purchased at $2.20 a pound. The actual quantity of materials used was 6,000 pounds, although the standard quantity allowed for the output was 5,400 pounds. Casey Company's materials price variance is
$60 U.
$600 U
$540 U.
$600 F
5. The standard quantity allowed for the units produced was 4,500 pounds, the standard price was $2.50 per pound, and the materials usage variance was $475 favorable. Each unit uses 1 pound of materials. How many units were actually produced?
4,690
4,500
11,725
4,310
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