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Berends Corporation makes a product with the following standard costs: Berends Corporation makes a product with the following standard costs: The company reported the following results concerning this product in April. 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 rate variance for April is: A) $792 F B) $792 U C) $768 F D) $768 U The company reported the following results concerning this product in April. Berends Corporation makes a product with the following standard costs: The company reported the following results concerning this product in April. 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 rate variance for April is: A) $792 F B) $792 U C) $768 F D) $768 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 variable overhead rate variance for April is:


A) $792 F
B) $792 U
C) $768 F
D) $768 U

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

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The following standards for variable manufacturing overhead have been established for a company that makes only one product: The following standards for variable manufacturing overhead have been established for a company that makes only one product: The following data pertain to operations for the last month: What is the variable overhead rate variance for the month? A) $112 F B) $130 U C) $4,450 U D) $4,338 U The following data pertain to operations for the last month: The following standards for variable manufacturing overhead have been established for a company that makes only one product: The following data pertain to operations for the last month: What is the variable overhead rate variance for the month? A) $112 F B) $130 U C) $4,450 U D) $4,338 U What is the variable overhead rate variance for the month?


A) $112 F
B) $130 U
C) $4,450 U
D) $4,338 U

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

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A direct materials quantity standard generally includes an allowance for waste.

A) True
B) False

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Berends Corporation makes a product with the following standard costs: Berends Corporation makes a product with the following standard costs: The company reported the following results concerning this product in April. 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 April is: A) $17,180 U B) $16,192 F C) $16,192 U D) $17,180 F The company reported the following results concerning this product in April. Berends Corporation makes a product with the following standard costs: The company reported the following results concerning this product in April. 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 April is: A) $17,180 U B) $16,192 F C) $16,192 U D) $17,180 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 materials price variance for April is:


A) $17,180 U
B) $16,192 F
C) $16,192 U
D) $17,180 F

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

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Eliezrie Corporation makes a product with the following standard costs: Eliezrie Corporation makes a product with the following standard costs: In January the company's budgeted production was 7,400 units but the actual production was 7,500 units. The company used 45,580 kilos of the direct material and 2,030 direct labor-hours to produce this output. During the month, the company purchased 48,500 kilos of the direct material at a cost of $53,350. The actual direct labor cost was $18,473 and the actual variable overhead cost was $7,714. 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 January is: A) $4,875 F B) $4,875 U C) $4,850 U D) $4,850 F In January the company's budgeted production was 7,400 units but the actual production was 7,500 units. The company used 45,580 kilos of the direct material and 2,030 direct labor-hours to produce this output. During the month, the company purchased 48,500 kilos of the direct material at a cost of $53,350. The actual direct labor cost was $18,473 and the actual variable overhead cost was $7,714. 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 January is:


A) $4,875 F
B) $4,875 U
C) $4,850 U
D) $4,850 F

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

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Canevari Corporation makes a product that uses a material with the following standards: Canevari Corporation makes a product that uses a material with the following standards: The company budgeted for production of 1,300 units in April, but actual production was 1,200 units. The company used 3,750 kilos of direct material to produce this output. The company purchased 4,100 kilos of the direct material at a total cost of $8,610. The direct materials purchases variance is computed when the materials are purchased. -The materials price variance for November is: A) $4,256 F B) $4,256 U C) $4,960 F D) $4,960 U The company budgeted for production of 1,300 units in April, but actual production was 1,200 units. The company used 3,750 kilos of direct material to produce this output. The company purchased 4,100 kilos of the direct material at a total cost of $8,610. The direct materials purchases variance is computed when the materials are purchased. -The materials price variance for November is:


A) $4,256 F
B) $4,256 U
C) $4,960 F
D) $4,960 U

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

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The following labor standards have been established for a particular product: The following labor standards have been established for a particular product: The following data pertain to operations concerning the product for the last month: -What is the labor rate variance for the month? A) $1,920 F B) $240 U C) $1,920 U D) $240 F The following data pertain to operations concerning the product for the last month: The following labor standards have been established for a particular product: The following data pertain to operations concerning the product for the last month: -What is the labor rate variance for the month? A) $1,920 F B) $240 U C) $1,920 U D) $240 F -What is the labor rate variance for the month?


A) $1,920 F
B) $240 U
C) $1,920 U
D) $240 F

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

Correct Answer

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Canevari Corporation makes a product that uses a material with the following standards: Canevari Corporation makes a product that uses a material with the following standards: The company budgeted for production of 1,300 units in April, but actual production was 1,200 units. The company used 3,750 kilos of direct material to produce this output. The company purchased 4,100 kilos of the direct material at a total cost of $8,610. The direct materials purchases variance is computed when the materials are purchased. -The materials quantity variance for November is: A) $3,290 F B) $3,196 F C) $3,290 U D) $3,196 U The company budgeted for production of 1,300 units in April, but actual production was 1,200 units. The company used 3,750 kilos of direct material to produce this output. The company purchased 4,100 kilos of the direct material at a total cost of $8,610. The direct materials purchases variance is computed when the materials are purchased. -The materials quantity variance for November is:


A) $3,290 F
B) $3,196 F
C) $3,290 U
D) $3,196 U

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

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Novelli Corporation makes a product whose variable overhead standards are based on direct labor-hours. The quantity standard is 0.6 hours per unit. The variable overhead rate standard is $5.00 per hour. In September the company produced 1,600 units using 950 direct labor-hours. The actual variable overhead rate was $5.10 per hour. -The variable overhead rate variance for September is:


A) $95 F
B) $96 U
C) $95 U
D) $96 F

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

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Oddo Corporation makes a product with the following standard costs: Oddo Corporation makes a product with the following standard costs: The company reported the following results concerning this product in December. 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 December is: A) $2,520 U B) $2,520 F C) $2,900 F D) $2,900 U The company reported the following results concerning this product in December. Oddo Corporation makes a product with the following standard costs: The company reported the following results concerning this product in December. 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 December is: A) $2,520 U B) $2,520 F C) $2,900 F D) $2,900 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 materials price variance for December is:


A) $2,520 U
B) $2,520 F
C) $2,900 F
D) $2,900 U

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

Correct Answer

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Oddo Corporation makes a product with the following standard costs: Oddo Corporation makes a product with the following standard costs: The company reported the following results concerning this product in December. 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 December is: A) $1,540 U B) $1,496 F C) $1,540 F D) $1,496 U The company reported the following results concerning this product in December. Oddo Corporation makes a product with the following standard costs: The company reported the following results concerning this product in December. 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 December is: A) $1,540 U B) $1,496 F C) $1,540 F D) $1,496 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 materials quantity variance for December is:


A) $1,540 U
B) $1,496 F
C) $1,540 F
D) $1,496 U

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

Correct Answer

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The following materials standards have been established for a particular product: The following materials standards have been established for a particular product: The following data pertain to operations concerning the product for the last month: What is the materials price variance for the month? A) $2,250 F B) $7,540 U C) $24,317 U D) $7,660 U The following data pertain to operations concerning the product for the last month: The following materials standards have been established for a particular product: The following data pertain to operations concerning the product for the last month: What is the materials price variance for the month? A) $2,250 F B) $7,540 U C) $24,317 U D) $7,660 U What is the materials price variance for the month?


A) $2,250 F
B) $7,540 U
C) $24,317 U
D) $7,660 U

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

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Which of the following would produce a labor rate variance?


A) Poor quality materials causing breakage and work interruptions.
B) Use of persons with high hourly wage rates in tasks that call for low hourly wage rates.
C) Excessive number of hours worked in completing a job.
D) An unfavorable variable overhead rate variance.

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

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The standard cost card of a particular product specifies that it requires 4.5 direct labor-hours at $12.80 per direct labor-hour. During March, 2,300 units of the product were produced and direct labor wages of $128,300 were incurred. A total of 11,700 direct labor-hours were worked. The direct labor variances for the month were: The standard cost card of a particular product specifies that it requires 4.5 direct labor-hours at $12.80 per direct labor-hour. During March, 2,300 units of the product were produced and direct labor wages of $128,300 were incurred. A total of 11,700 direct labor-hours were worked. The direct labor variances for the month were: A) Option A B) Option B C) Option C D) Option D


A) Option A
B) Option B
C) Option C
D) Option D

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

Correct Answer

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The Collins Corporation uses standard costing and has established the following direct material and direct labor standards for each unit of the single product it makes: • Direct materials: 4 gallons at $8 per gallon • Direct labor: 1 hour at $16 per hour During July, the company made 6,000 units of product and incurred the following costs: • Direct materials purchased: 26,800 gallons at $8.20 per gallon • Direct materials used: 25,200 gallons • Direct labor used: 5,600 hours at $15.30 per hour The direct materials purchases variance is computed when the materials are purchased. -The materials price variance for July was:


A) $5,360 Favorable
B) $5,360 Unfavorable
C) $5,040 Favorable
D) $5,040 Unfavorable

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

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Merle Corporation applies manufacturing overhead to products on the basis of standard machine-hours. For the most recent month, the company based its budget on 4,000 machine-hours. Budgeted and actual overhead costs for the month appear below: Merle Corporation applies manufacturing overhead to products on the basis of standard machine-hours. For the most recent month, the company based its budget on 4,000 machine-hours. Budgeted and actual overhead costs for the month appear below: The company actually worked 3,690 machine-hours during the month. The standard hours allowed for the actual output were 3,620 machine-hours for the month. What was the overall variable overhead efficiency variance for the month? A) $721 Unfavorable B) $467 Favorable C) $254 Unfavorable D) $880 Favorable The company actually worked 3,690 machine-hours during the month. The standard hours allowed for the actual output were 3,620 machine-hours for the month. What was the overall variable overhead efficiency variance for the month?


A) $721 Unfavorable
B) $467 Favorable
C) $254 Unfavorable
D) $880 Favorable

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

Correct Answer

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Desue Corporation makes a product with the following standards for labor and variable overhead: Desue Corporation makes a product with the following standards for labor and variable overhead: The company budgeted for production of 6,500 units in December, but actual production was 6,300 units. The company used 610 direct labor-hours to produce this output. The actual variable overhead rate was $6.40 per hour. The company applies variable overhead on the basis of direct labor-hours. -The variable overhead rate variance for December is: A) $366 U B) $366 F C) $378 F D) $378 U The company budgeted for production of 6,500 units in December, but actual production was 6,300 units. The company used 610 direct labor-hours to produce this output. The actual variable overhead rate was $6.40 per hour. The company applies variable overhead on the basis of direct labor-hours. -The variable overhead rate variance for December is:


A) $366 U
B) $366 F
C) $378 F
D) $378 U

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

Correct Answer

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Gilder Corporation makes a product with the following standard costs: Gilder Corporation makes a product with the following standard costs: The company reported the following results concerning this product in June. 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 June is: A) $640 F B) $640 U C) $612 F D) $612 U The company reported the following results concerning this product in June. Gilder Corporation makes a product with the following standard costs: The company reported the following results concerning this product in June. 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 June is: A) $640 F B) $640 U C) $612 F D) $612 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 June is:


A) $640 F
B) $640 U
C) $612 F
D) $612 U

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

Correct Answer

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Biery Corporation makes a product with the following standard costs: Biery Corporation makes a product with the following standard costs: The company produced 4,100 units in April using 5,380 liters of direct material and 2,610 direct labor-hours. During the month, the company purchased 6,000 liters of the direct material at $5.80 per liter. The actual direct labor rate was $19.80 per hour and the actual variable overhead rate was $2.90 per hour. 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 April is: A) $2,850 F B) $2,850 U C) $2,970 F D) $2,970 U The company produced 4,100 units in April using 5,380 liters of direct material and 2,610 direct labor-hours. During the month, the company purchased 6,000 liters of the direct material at $5.80 per liter. The actual direct labor rate was $19.80 per hour and the actual variable overhead rate was $2.90 per hour. 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 April is:


A) $2,850 F
B) $2,850 U
C) $2,970 F
D) $2,970 U

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

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The Maxwell Corporation has a standard costing system in which variable manufacturing overhead is assigned to production on the basis of standard machine-hours. The following data are available for July: • Actual variable manufacturing overhead cost incurred: $22,620 • Actual machine-hours worked: 1,600 hours • Variable overhead rate variance: $3,420 Unfavorable • Total variable overhead spending variance: $4,620 Unfavorable -The standard number of machine-hours allowed for July production is:


A) 1,500 hours
B) 1,600 hours
C) 1,700 hours
D) 2,270 hours

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

Correct Answer

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