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Blue Box Beach Chairs has the following standards to make beach chairs Standard Quantity Standard Price Direct materials 22 pounds of polywood per chair $350 per pound Direct labor 065 hours per

Blue Box Beach Chairs has the following standards to make beach chairs: Standard Quantity Standard Price Direct materials

22 pounds of polywood per chair $350 per pound Direct labor 065 hours per chair $1300 per hour

 

The static budget was based on the production of 6,200 beach chairs The company used 13,000 pounds of polywood in order to make 6,000 chairs in April The company purchased 7,000 pounds of polywood at a total cost of $24,150 How much is the direct materials quantity variance?

A) $700 favorable

B) $2,240 favorable

C) $350 favorable

D) $1,050 favorable

2

Blue Box Beach Chairs has the following standards to make beach chairs: Standard Quantity Standard Price Direct materials 22 pounds of polywood per chair $350 per pound Direct labor 065 hours per chair $1300 per hour

The static budget was based on the production of 6,200 beach chairs The company used 13,000 pounds of polywood in order to make 6,000 chairs in April The company purchased 7,000 pounds of polywood at a total cost of $24,150 How much is the direct materials price variance?

A) $700 favorable

B) $2,240 favorable

C) $350 favorable

D) $1,050 favorable

 

3 3 If the material quantity variance is favorable, the

A) material price variance will be unfavorable

B) material price variance must also be favorable

C) quantity purchased is less than the quantity used

D) actual quantity used is less than the standard quantity allowed

 

Electric Zero produces relay units for generators Each relay has a standard cost of $67 Standards call for two relays per generator In July, the company purchased 120 relays for $7,560 The company used 104 relays in the production of 50 generators, with four relays damaged in the installation process The standard quantity of labor is 20 hours per generator, with a standard wage rate of $23 In July, the company incurred 1,020 labor hours at a cost of $22,950 How much is the labor rate variance?

A) $460 unfavorable

B) $50 favorable

C) $510 favorable

D) $460 favorable

5 Electric Zero produces relay units for generators Each relay has a standard cost of $67 Standards call for two relays per generator In July, the company purchased 120 relays for $7,560 The company used 104 relays in the production of 50 generators, with four relays damaged in the installation process The standard quantity of labor is 20 hours per generator, with a standard wage rate of $23 In July, the company incurred 1,020 labor hours at a cost of $22,950 How much is the labor efficiency variance?

A) $460 unfavorable

B) $50 favorable

C) $510 favorable

D) $460 favorable

6Which of the following may cause an unfavorable material variance?

I More material was used than planned

II II A company paid a higher price for materials than expected

III III More materials were used than purchased

A) I and II

B) II and III

C) I and III

D) I, II, and III

Mar 23 2020 Read more Less More

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