Chapter 23 Practice Materials(2)

226 ??Chapter 23/Performance Evaluation Using Variances From Standard Costs

20. The direct material quantity variance is:

a. 600F b. 600U c. 80F d. 80U ANS: D DIF: Moderate OBJ: 23-03

NAT: AACSB Analytic | IMA-Performance Measurement

The following data is given for the Walker Company:

Budgeted production 26,000 units Actual production 27,500 units Materials: Standard price per ounce $6.50 Standard ounces per completed unit 8 Actual ounces purchased and used in production 228,000 Actual price paid for materials $1,504,800 Labor: Standard hourly labor rate $22 per hour Standard hours allowed per completed unit 6.6 Actual labor hours worked 183,000 Actual total labor costs $4,020,000 Overhead: Actual and budgeted fixed overhead $1,029,600 Standard variable overhead rate $24.50 per standard labor hour Actual variable overhead costs $4,520,000 Overhead is applied on standard labor hours.

21. The direct material price variance is:

a. 22,800U b. 22,800F c. 52,000U d. 52,000F ANS: A DIF: Moderate OBJ: 23-03

NAT: AACSB Analytic | IMA-Performance Measurement

22. The direct material quantity variance is:

a. 22,800F b. 22,800U c. 52,000F d. 52,000U ANS: D DIF: Moderate OBJ: 23-03

NAT: AACSB Analytic | IMA-Performance Measurement

Chapter 23/Performance Evaluation Using Variances From Standard Costs ? 227

The Joyner Corporation purchased and used 126,000 board feet of lumber in production, at a total cost of $1,449,000. Original production had been budgeted for 22,000 units with a standard material quantity of 5.5 board feet per unit and a standard price of $12 per board foot. Actual production was 23,000 units.

23. Compute the material price variance.

a. 63,000F b. 63,000U c. 6,000F d. 6,000U ANS: A DIF: Moderate OBJ: 23-03

NAT: AACSB Analytic | IMA-Performance Measurement

24. Compute the material quantity variance.

a. 63,000F b. 63,000U c. 6,000F d. 6,000U ANS: C DIF: Moderate OBJ: 23-03

NAT: AACSB Analytic | IMA-Performance Measurement

25. If the wage rate paid per hour differs from the standard wage rate per hour for direct labor, the variance

is termed:

a. variable variance b. rate variance c. quantity variance d. volume variance ANS: B DIF: Easy OBJ: 23-03

NAT: AACSB Analytic | IMA-Performance Measurement

26. If the actual direct labor hours spent producing a commodity differ from the standard hours, the

variance is termed: a. time variance b. price variance c. quantity variance d. rate variance ANS: A DIF: Easy OBJ: 23-03

NAT: AACSB Analytic | IMA-Performance Measurement

228 ??Chapter 23/Performance Evaluation Using Variances From Standard Costs

27. The following data relate to direct labor costs for the current period:

Standard costs 7,500 hours at $11.60 Actual costs 6,000 hours at $12.00

What is the direct labor time variance? a. $3,000 favorable b. $15,000 unfavorable c. $2,400 favorable d. $17,400 favorable ANS: D DIF: Moderate OBJ: 23-03

NAT: AACSB Analytic | IMA-Performance Measurement

28. The following data relate to direct labor costs for the current period:

Standard costs 6,000 hours at $12.00 Actual costs 7,500 hours at $11.60

What is the direct labor rate variance? a. $15,000 unfavorable b. $3,000 favorable c. $17,400 unfavorable d. $2,400 favorable ANS: B DIF: Moderate OBJ: 23-03

NAT: AACSB Analytic | IMA-Performance Measurement

29. The following data relate to direct labor costs for the current period:

Standard costs 9,000 hours at $5.50 Actual costs 8,750 hours at $5.75

What is the direct labor rate variance? a. $2,250.00 unfavorable b. $2,187.50 unfavorable c. $1,438.00 favorable d. $1,375.00 favorable ANS: B DIF: Moderate OBJ: 23-03

NAT: AACSB Analytic | IMA-Performance Measurement

Chapter 23/Performance Evaluation Using Variances From Standard Costs ? 229

30. The following data relate to direct labor costs for the current period:

Standard costs 36,000 hours at $22.50 Actual costs 35,000 hours at $23.00

What is the direct labor time variance? a. $17,500 unfavorable b. $18,000 unfavorable c. $5,000 favorable d. $22,500 favorable ANS: D DIF: Moderate OBJ: 23-03

NAT: AACSB Analytic | IMA-Performance Measurement

31. The standard costs and actual costs for direct labor for the manufacture of 2,500 actual units of product

are as follows:

Standard Costs Direct labor 7,500 hours @ $12

Actual Costs Direct labor 7,400 hours @ $11.40

The amount of the direct labor rate variance is: a. $4,440 unfavorable b. $4,500 favorable c. $4,440 favorable d. $4,500 unfavorable ANS: C DIF: Moderate OBJ: 23-03

NAT: AACSB Analytic | IMA-Performance Measurement

32. The standard costs and actual costs for direct materials, direct labor, and factory overhead for the

manufacture of 2,500 units of product are as follows:

Standard Costs Direct labor 7,500 hours @ $12

Actual Costs Direct labor 7,400 hours @ $11.40

The amount of the direct labor time variance is: a. $1,200 favorable b. $1,140 unfavorable c. $1,200 unfavorable d. $1,140 favorable ANS: A DIF: Moderate OBJ: 23-03

NAT: AACSB Analytic | IMA-Performance Measurement

230 ??Chapter 23/Performance Evaluation Using Variances From Standard Costs

The following data relate to direct labor costs for February:

Actual costs Standard costs

33. What is the direct labor time variance?

a. $9,100 favorable b. $9,100 unfavorable c. $6,300 unfavorable d. $6,300 favorable ANS: C DIF: Moderate OBJ: 23-03

NAT: AACSB Analytic | IMA-Performance Measurement

34. What is the direct labor rate varia …… 此处隐藏：3623字，全部文档内容请下载后查看。喜欢就下载吧 ……