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Exam 9: Flexible Budgets Standard Costs and Variance Analysis

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Question 141

Multiple Choice

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The labor efficiency variance for January is:

A) $200 U
B) $213 U
C) $200 F
D) $213 F

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

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Question 142

Multiple Choice

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The variable overhead rate variance for July is:

A) $213 F
B) $216 F
C) $216 U
D) $213 U

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

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Question 143

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The materials price variance is computed based on the amount of materials purchased during the period.

Tos Corporation's flexible budget cost formula for indirect materials, a variable cost, is $0.60 per unit of output.If the company's performance report for last month shows an $800 unfavorable spending variance for indirect materials and if 9,000 units of output were produced last month, then the actual costs incurred for indirect materials for the month must have been:

The amount shown for total expenses in the planning budget for March would have been closest to:

The amount shown for "Employee salaries and wages" in the planning budget for March would have been closest to:

The facility expenses in the flexible budget for January would be closest to:

The amount shown for "Servicing materials" in the planning budget for November would have been closest to:

The spending variance for power costs for the month should be:

If variable manufacturing overhead is applied on the basis of direct labor-hours and the variable overhead rate variance is favorable, then:

The variable overhead efficiency variance for the month is closest to:

The variable overhead efficiency variance for October is:

Viger Corporation has a standard cost system in which it applies manufacturing overhead to products on the basis of standard machine-hours (MHs) .The company has provided the following data for the most recent month: What was the variable overhead rate variance for the month?

The variable overhead efficiency variance for supplies is closest to:

The materials price variance for August is:

The variable overhead efficiency variance for January is:

The spending variance for "Employee salaries and wages" for October would have been closest to:

Lightsey Natural Dying Corporation measures its activity in terms of skeins of yarn dyed.Last month, the budgeted level of activity was 14,800 skeins and the actual level of activity was 15,100 skeins.The company's owner budgets for dye costs, a variable cost, at $0.51 per skein.The actual dye cost last month was $8,660.What would have been the spending variance for dye costs?

The amount shown for net operating income in the planning budget for March would have been closest to:

The manufacturing overhead in the flexible budget for January would be closest to: