Reference no: EM132837534
Problem - The following costs are related to questions 1- 4: A company's actual and standard costs of production are as follows:
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Standard Costs (TL)
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Actual Costs (TL)
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Direct Materials
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30,000
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31,000
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Direct Labor
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20,000
|
18,000
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|
General Production Expenses
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15,000
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14,000
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Q1. What is the total standard cost?
a) TL 65,000 b) TL 64,000 c) TL 63,000 d) TL 62,000 e) TL 61,000
Q2. What is the total actual cost?
a) TL 65,000 b) TL 64,000 c) TL 63,000 d) TL 62,000 e) TL 61,000
Q3. What is the variance between the actual and the standard costs for direct materials?
a) TL 1,000 b) TL 2,000 c) TL 3,000 d) TL 4,000 e) TL 5,000
Q4. What is the variance between the actual and the standard costs for direct labor?
a) TL 1,000 b) TL 2,000 c) TL 3,000 d) TL 4,000 e) TL 5,000