Reference no: EM131765590

Q1. The standard quantity allowed for the units produced was 6,500 pounds, the standard price was $2.50 per pound, and the materials quantity variance was $375 favorable. Each unit uses 1 pound of materials. How many units were actually produced?

A) 6,350

B) 6,500

C) 15,875

D) 6,650

Q2. A company developed the following per-unit standards for its product: 2 gallons of direct materials at $6 per gallon. Last month, 3,000 gallons of direct materials were purchased for $17,100. The direct materials price variance for last month was

A) $17,100 favorable.

B) $450 favorable.

C) $900 favorable.

D) $900 unfavorable.

Q3. The per-unit standards for direct materials are 2 pounds at $4 per pound. Last month, 11,200 pounds of direct materials that actually cost $42,400 were used to produce 6,000 units of product. The direct materials quantity variance for last month was

A) $3,200 favorable.

B) $2,400 favorable.

C) $3,200 unfavorable.

D) $5,600 unfavorable.

Q4. The standard number of hours that should have been worked for the output attained is 10,000 direct labor hours and the actual number of direct labor hours worked was 10,500. If the direct labor price variance was $10,500 unfavorable, and the standard rate of pay was $15 per direct labor hour, what was the actual rate of pay for direct labor?

A) $14 per direct labor hour

B) $12 per direct labor hour

C) $16 per direct labor hour

D) $15 per direct labor hour

Q5. A company uses 40,000 gallons of materials for which it paid $9.00 a gallon. The materials price variance was $80,000 favorable. What is the standard price per gallon?

A) $2.00

B) $7.00

C) $10.00

D) $11.00