The first part can be put on word but the second part had to be


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The first part can be put on word but the second part had to be done on the excel. accwk6questions.docx Quiz 1. The Litton Company has established standards as follows: Direct material: 3 pounds per unit @ $4 per pound = $12 per unit Direct labor: 2 hours per unit @ $8 per hour = $16 per unit Variable manufacturing overhead: 2 hours per unit @ $5 per hour = $10 per unit Actual production figures for the past year are given below. The company records the materials price variance when materials are purchased. The company applies variable manufacturing overhead to products on the basis of standard direct labor­hours. The materials price variance is: $400 U $400 F $600 F $600 U 2. The Litton Company has established standards as follows: Direct material: 3 pounds per unit @ $4 per pound = $12 per unit Direct labor: 2 hours per unit @ $8 per hour = $16 per unit Variable manufacturing overhead: 2 hours per unit @ $5 per hour = $10 per unit Actual production figures for the past year are given below. The company records the materials price variance when materials The company applies variable manufacturing overhead to products on the basis of standard direct labor­hours. The variable overhead rate variance is: $240 U $220 U $220 F $240 F 3. The following labor standards have been established for a particular product: The following data pertain to operations concerning the product for the last month: Required: a. What is the labor rate variance for the month? b. What is the labor efficiency variance for the month?4 4 The Litton Company has established standards as follows: Direct material: 3 pounds per unit @ $4 per pound = $12 per unit Direct labor: 2 hours per unit @ $8 per hour = $16 per unit Variable manufacturing overhead: 2 hours per unit @ $5 per hour = $10 per unit Actual production figures for the past year are given below. The company records the materials price variance when materials are purchased. The company applies variable manufacturing overhead to products on the basis of standard direct labor­hours. The labor rate variance is: $480 F $480 U $440 F $440 U 5 The Porter Company has a standard cost system. In July the company purchased and used 22,500 pounds of direct material at an actual cost of $53,000; the materials quantity variance was $1,875 Unfavorable; and the standard quantity of materials allowed for July production was 21,750 pounds. The materials price variance for July was: $2,725 F $2,725 U $3,250 F $3,250 U 6 Karmazyn Hospital bases its budgets on patient­visits. The hospital’s static budget for October appears below The total variable cost at the activity level of 9,000 patient­visits per month should be: $157,530 $209,70 0 $207,370 $159,300 7 Farver Air uses two measures of activity, flights and passengers, in the cost formulas in its flexible budgets. The cost formula for plane operating costs is $44,420 per month plus $2,008 per flight plus $1 per passenger. The company expected its activity in May to be 80 flights and 281 passengers, but the actual activity was 81 flights and 277 passengers. The actual cost for plane operating costs in May was $199,650. The spending variance for plane operating costs in May would be closest to: $5,691 F $7,695 U $7,695 F $5,691 U 8 The Litton Company has established standards as follows: Direct material: 3 pounds per unit @ $4 per pound = $12 per unit Direct labor: 2 hours per unit @ $8 per hour = $16 per unit Variable manufacturing overhead: 2 hours per unit @ $5 per hour = $10 per unit Actual production figures for the past year are given below. The company records the materials price variance when materials are purchased. The company applies variable manufacturing overhead to products on the basis of standard direct labor­hours. The materials quantity variance is: $800 U $4,000 U $760 U $760 F 9 The following standards for variable manufacturing overhead have been established for a company that makes only one product: The follo

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