Reference no: EM132793751
Questions -
Q1. The method of adjusting the budget to reflect the actual volume of sales is called
a. Incremental budgeting
b. Activity-based budgeting
c. Flexible budgeting
d. Program budgeting
Q2. A company makes bulk cookies sold in restaurants. The following standards have been developed:
Standard Inputs for Each Batch of Cookies Standard Price per Input
Direct materials 25 kilograms $2 per kilogram
Direct labour 4 hours $15 per hour
Each batch of cookies contains 1,000 cookies. During January, production of 100,000 cookies was planned, but 105,000 cookies were actually made. At an actual price of $2.15 per kilogram, 2,250 kilograms of direct materials were purchased and used. The total direct labour cost for the month was $5,600, and the actual pay per hour was $14.00.
The direct labour rate variance for January is
a. $300 F
b. $400 F
c. $300 F
d. $400 U
Q3. During November, 35,000 direct labour hours were worked by the employees of Allied Industries. The direct labour rate variance for November was $26,250 U, and the standard direct labour rate was $12.50. What was the actual cost of direct labour during November?
a. $12.50
b. $13.25
c. $14.00
d. $11.75
Q4. Granddad's Sauce Company's costing system shows the following information for the month of October:
Actual price per kg of direct material $3.50
Standard price per kg of direct material $4.00
Direct material efficiency variance $800 F
Actual # of units produced 2,600
Standard inputs used to produce Actual output of 2,600 units 5,200
What quantity of direct materials was purchased and used in October?
a. 5,000 kg
b. 5,714 kg
c. 5,200 kg
d. 4,350 kg
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