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Question 1 Complete Mark 1 - Tài liệu tham khảo | Đại học Hoa Sen
Question 1 Complete Mark 1 - Tài liệu tham khảo | Đại học Hoa Sen và thông tin bổ ích giúp sinh viên tham khảo, ôn luyện và phục vụ nhu cầu học tập của mình cụ thể là có định hướng, ôn tập, nắm vững kiến thức môn học và làm bài tốt trong những bài kiểm tra, bài tiểu luận, bài tập kết thúc học phần, từ đó học tập tốt và có kết quả
Thống kê trong kinh doanh (DC 119DV02) 90 tài liệu
Đại học Hoa Sen 4.8 K tài liệu
Question 1 Complete Mark 1 - Tài liệu tham khảo | Đại học Hoa Sen
Question 1 Complete Mark 1 - Tài liệu tham khảo | Đại học Hoa Sen và thông tin bổ ích giúp sinh viên tham khảo, ôn luyện và phục vụ nhu cầu học tập của mình cụ thể là có định hướng, ôn tập, nắm vững kiến thức môn học và làm bài tốt trong những bài kiểm tra, bài tiểu luận, bài tập kết thúc học phần, từ đó học tập tốt và có kết quả
Môn: Thống kê trong kinh doanh (DC 119DV02) 90 tài liệu
Trường: Đại học Hoa Sen 4.8 K tài liệu
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Question 1 Complete Mark 1.00 out of 1.00 19. The prof t margin multipl i
ied by the asset turnover equals the: a. gross margin ratio. b. operating margin ratio. c. profit margin ratio. d. return on investment.
Question 2 Complete Mark 1.00 out of 1.00
18. On January 1, Dooley Company has as beginning cash balance of $63,000. During the year,
the company expects cash disbursements of $510,00 and cash receipts of $435,000. If Dooley
requires an ending cash balance of $60,000. Dooley Company must borrow: a. $138,000 b. $72,000 c. $60,000 d. $48,000
Question 3 Complete Mark 0.00 out of 1.00
20. Variance analysis is an important tool because:
a. It helps management determine why actual profits varied from budgeted profits
b. It helps management determine which department operated most eìciently
c. It helps management determine better pricing strategies
d. It helps management determine where bottlenecks in the production process occurred
Question 4 Complete Mark 1.00 out of 1.00
14. If there were 60,000 pounds of raw materials on hand on January 1, 140,000 pounds are
desired for inventory at January 31, and 450,000 pounds are required for January production,
how many pounds of raw materials shoud be purchased in January? a. 560,000 pounds b. 280,000 pounds c. 530,000 pounds d. 350,000 pounds
Question 5 Complete Mark 0.00 out of 1.00
10. A form providing standard quantities of inputs used to produce a unit of output and the
standard prices for the inputs is called a(an): a. Variance report. b. Cost of production report. c. Job cost sheet. d. Standard cost sheet.
Question 6 Complete Mark 1.00 out of 1.00
4. The sales forecast should be primarily based on: a. statistical analysis.
b. input from sales managers and sales representatives
c. input from the board of directors d. production capacity
Question 7 Complete Mark 0.00 out of 1.00
16.Budgeting provides all of the following EXCEPT:
a. a means to communicate the organization's short-term goals to its members
b. support for the management functions of planning and coordination
c. a means to anticipate problems
d. an ethical framework for decision making
Question 8 Complete Mark 0.00 out of 1.00
17. The single most important output in preparing financial budgeds is the a. Sales forecast b. Budgeted income stattement
c. Determination of the unit cost of the product d. Cash budget
Question 9 Complete Mark 1.00 out of 1.00
5. The excess of actual profit over the cost of invested capital in the unit is called: a. Residual income (RI) b. Profit margin c. Return on investment (ROI) d. Cost of capital
Question 10 Complete Mark 1.00 out of 1.00
13. Why are budgets useful in the planning progess?
a. They enable the budget committee to earn their paycheck
b. They provide management with information about the company’s past performance
c. They help communicate goals and provide a basis for evaluation
d. The guarantee the company will be profitable if it meets its objectives
Question 11 Complete Mark 1.00 out of 1.00
12. A (n) _____________ is a financial plan of the resources needed to carry out activities and meet financial goals.
a. Contribution margin statement b. Comprehensive audit c. Budget d. Income statement
Question 12 Complete Mark 1.00 out of 1.00
11.The diéerence between a planned result and the actual outcome is called a(an): a. Variance b. Financial budget. c. Flexible budget d. Operating budget.
Question 13 Complete Mark 0.00 out of 1.00
8. The term standard cost refers to the:
a. Average unit cost of product produced by other companies
b. Average unit cost of product produced in the current period
c. Average unit cost of product produced in the previous period
d. Budgeted unit cost of product produced in a particular period
Question 14 Complete Mark 1.00 out of 1.00
23.During the past twelve months, the Zenith Corporation had a net income of 39,000. What is
the return on investment if the amount of the investment is $ 280,000? a. 10% b. 14% c. 16% d. 12%
Question 15 Complete Mark 0.00 out of 1.00
6. Which of the following will not result in an increase in the residual income, assuming other factors remain constant?
a. A decrease in operating assets. b. A decrease in expenses c. An increase in sales.
d. An increase in the minimum required rate of return.
Question 16 Complete Mark 0.00 out of 1.00
21.Return on investment can be increased by a. (2) & (3)
b. (1) increasing operating assets.
c. (2) decreasing operating assets d. (3) decreasing revenues
Question 17 Complete Mark 0.00 out of 1.00
7. A favorable materials price variance will occur when:
a. Less materials were used than budgeted
b. Actual costs of materials were more than budgeted
c. More materials were used than budgeted
d. Actual cost of materials were less than budgeted
Question 18 Complete Mark 1.00 out of 1.00
3. The Miles Corporation's budgeted revenues and expenses for last period were $400,000 and
$250,000, respectively. The actual results were: revenues, $420,000; expenses, $280,000.
Ignoring income tax eéects, what was the company's profit variance? a. $10,000 unfavorable b. $30,000 unfavorable c. $20,000 favorable d. $10,000 favorable
Question 19 Complete Mark 0.00 out of 1.00
9. Calculate the production budget from the following data: sales 89,350 units; opening
inventory 21,860 units; closing inventory 35,150 units. a. 132,046 units b. 102,640 units c. 132,640 units d. 164,320 units
Question 20 Complete Mark 1.00 out of 1.00
2. Which of the following terms is used to describe the ratio calculated by dividing after-tax income by divisional assets? a. Prof t margin ratio. i b. Return on investment (ROI) c. Residual income (RI) d. Cost of capital.
Question 21 Complete Mark 1.00 out of 1.00
24.During the past twelve months, the Aaron Corporation had a net incomce of $ 70,000. What
is the amount of the investment if the return on investment is 20% a. $200,000 b. $ 350,000 c. $100,000 d. $ 500,000
Question 22 Complete Mark 0.00 out of 1.00
22. Which one of the following is needed in preparing a cash budget? a. Cash collection Budged b. Budged raw materials
c. Ending finished goods units
d. Begnning finished goods units
Question 23 Complete Mark 1.00 out of 1.00
1. The master budget begins with a___________ a. Direct materials budget b. Sales budget c. Personnel budget d. Production budget
Question 24 Complete Mark 1.00 out of 1.00
15.In a production budget, total required units are the budgeted sales units plus
a. beginning finished goods units
b. desired ending finished goods units plus beginning finished goods units
c. desired ending finished goods units minus beginning finished goods units
d. desired ending finished goods units
Question 1 Correct Mark 1.00 out of 1.00
C16-4 A budget that indicates revenues, costs, and proêts for diéerent levels of activity is called a: a. ëexible budget. b. production budget. c. master budget. d. static budget.
Question 2 Correct Mark 1.00 out of 1.00
C16-12 If variance analysis indicated an unfavorable materials price variance, the journal entry
to record this variance would include:
a. a debit to materials price variance.
b. a credit to work-in-process.
c. a credit to materials price variance.
d. a credit to work-in-process.
Question 3 Correct Mark 1.00 out of 1.00
C16-11 Britton Corporation's standard cost sheet for variable costs is given below: Direct
material: 2 pounds at $1.20 per pound; Direct labor: 5.5 hours at $7.50 per hour ; Last period,
Britton purchased and used 30,000 lbs of material and 85,000 hours to produce 15,500 units of
its only product, Snué. The actual material and labor costs were $37,500 and $642,500,
respectively. The direct labor eìciency variance was: a. $5,000 unfavorable b. $1,875 favorable c. $1,875 unfavorable d. $5,000 favorable
Question 4 Correct Mark 1.00 out of 1.00
C16-9 Britton Corporation's standard cost sheet for variable costs is given below: Direct
material: 2 pounds at $1.20 per pound; Direct labor: 5.5 hours at $7.50 per hour ; Last period,
Britton purchased and used 30,000 lbs of material and 85,000 hours to produce 15,500 units of
its only product, Snué. The actual material and labor costs were $37,500 and $642,500,
respectively. The direct material price variance was: a. $1,500 unfavorable b. $1,500 favorable c. $1,200 unfavorable d. $1,200 favorable
Question 5 Correct Mark 1.00 out of 1.00
16-18 After – tax income divided by assets equals a. Proêt margin ratio . b. Cost of capital c. Return on investment (ROI) d. Residual income (RI)
Question 6 Correct Mark 1.00 out of 1.00
C16-5 Smith Company's budgeted sales quantity was 80,000 units of product. The company's
accountant, using regression analysis, used the following cost formula to estimate costs at the
master budget level for this year: Total cost = $500,000 + ($5.20 x units produced and sold). The
product had a budgeted selling price of $15.20 each. During the year, the actual sales were
82,000 units and selling price was $15.15 per unit. The actual variable costs were $418,200 and
the êxed c sts were $500,000. Smith's proêt variance was: o a. $26,300 unfavorable b. $26,300 favorable c. $24,100 favorable d. $24,100 unfavorable
Question 7 Correct Mark 1.00 out of 1.00
C16-6 Smith Company's budgeted sales quantity was 80,000 units of product. The company's
accountant, using regression analysis, used the following cost formula to estimate costs at the
master budget level for this year: Total cost = $500,000 + ($5.20 x units produced and sold). The
product had a budgeted selling price of $15.20 each. During the year, the actual sales were
82,000 units and selling price was $15.15 per unit. The actual variable costs were $418,200 and
the êxed costs were $500,000. Smith's sales price variance was: a. $4,100 favorable b. $4,100 unfavorable c. $6,300 favorable d. $6,300 unfavorable
Question 8 Correct Mark 1.00 out of 1.00
16-15 Variance analysis is used to compare planned and actual performance. Which of the following
is not a reason for the occurrence of variances?
a. Actual performance being the same as standard performance
b. Operations being out of control c. Measurement errors
d. The use of standards that are out of date
Question 9 Correct Mark 1.00 out of 1.00
C16-13 Last period the following results occurred in a standard costing system: total material
variance, $2,000 unfavorable; material eìciency variance, $1,500 favorable; and the actual price
paid per pound for the material, $0.50 more than the standard price per pound. The number of
pounds of material purchased and used during the period was: a. 6,000 b. 7,000 c. 7,500 d. 6,500
Question 10 Correct Mark 1.00 out of 1.00
C16-3. Variance analysis is used to compare planned and actual performance. Which of the
following is not a reason for the occurrence of variances a. Measurement errors
b. The use of standards that are out of date
c. Actual performance being the same as standard performance
d. Operations being out of control
Question 11 Correct Mark 1.00 out of 1.00
C16-11 Britton Corporation's standard cost sheet for variable costs is given below: Direct
material: 2 pounds at $1.20 per pound; Direct labor: 5.5 hours at $7.50 per hour ; Last period,
Britton purchased and used 30,000 lbs of material and 85,000 hours to produce 15,500 units of
its only product, Snué. The actual material and labor costs were $37,500 and $642,500,
respectively. The direct labor price variance was: a. $1,875 unfavorable b. $1,875 favorable c. $5,000 favorable d. $5,000 unfavorable
Question 12 Correct Mark 1.00 out of 1.00
16-19 Annual after-tax (adjusted) divisional income minus the total annual cost of (adjusted) capital is a. residual income b. economic value added c. cost of invested capital d. return on investment
Question 13 Correct Mark 1.00 out of 1.00
C16-7 A form providing standard quantities of inputs used to produce a unit of output and the
standard prices for the inputs is called a(an): a. job cost sheet. b. standard cost sheet. c. cost of production report. d. variance report.
Question 14 Correct Mark 1.00 out of 1.00
16-15 A total variance is best deêned as the diéerence between total
a. Actual cost and total cost applied for the standard output of the period.
b. Actual cost and total standard cost of the actual input of the period.
c. Actual cost and total cost applied for the actual output of the period.
d. Standard cost and total cost applied to production.
Question 15 Correct Mark 1.00 out of 1.00
C16-2 The Miles Corporation's budgeted revenues and expenses for last period were $400,000
and $250,000, respectively. The actual results were revenues, $420,000; expenses, $280,000. The
company's proêt variance (ignore income tax eéects) was: a. $20,000 unfavorable b. $10,000 unfavorable c. $20,000 favorable d. $10,000 favorable
Question 16 Correct Mark 1.00 out of 1.00
C16-1 The diéerence between a planned result and the actual outcome is called a(an): a. ênancial budget b. ëexible budget c. operating budget d. variance
Question 17 Incorrect Mark 0.00 out of 1.00
16-20 The proêt margin multiplied by the asset turnover equals the: a. proêt margin ratio. b. gross margin ratio. c. operating margin ratio. d. return on investment.
Question 18 Correct Mark 1.00 out of 1.00
16-17 Which is the mostly likely purpose of budgeting?
a. Planning and control of an organization's income and expenditure
b. Assess the non-ênancial performance of an organization c. Company valuation
d. Preparation of a êve-year business plan
Question 19 Correct Mark 1.00 out of 1.00
16-16 Calculate the production budget from the following data: sales 89,350 units; opening
inventory 23,864 units; closing inventory 33,156 units. a. 146,370 units b. 80,058 units c. 98,642 units d. 32,330 units
Question 20 Correct Mark 1.00 out of 1.00
C16-8 The diéerence between the ëexible budget for inputs such as direct materials and direct
labor and the actual results is the: a. total cost variance. b. price variance. c. total quantity variance. d. eìciency variance.
Question 21 Correct Mark 1.00 out of 1.00
C16-14 The term standard cost refers to the:
a. Average unit cost of product produced in the current period
b. Average unit cost of product produced in the previous period
c. Average unit cost of product produced by other companies
d. Budgeted unit cost of product produced in a particular period
Question 22 Correct Mark 1.00 out of 1.00
C16-10 Britton Corporation's standard cost sheet for variable costs is given below: Direct
material: 2 pounds at $1.20 per pound; Direct labor: 5.5 hours at $7.50 per hour ; Last period,
Britton purchased and used 30,000 lbs of material and 85,000 hours to produce 15,500 units of
its only product, Snué. The actual material and labor costs were $37,500 and $642,500,
respectively. The direct material eìciency variance was a. $1,200 favorable b. $1,200 unfavorable c. $1,500 unfavorable d. $1,500 favorable
Question 1 Correct Mark 1.00 out of 1.00
Suncoast Manufacturing is preparing its cash budget for April. The following information is available
regarding its accounts receivable: 70% of all sales are credit sales and 30% are cash sales. Credit
experience has shown that Suncoast experiences the following collection pattern on credit sales:
30% collected in the month of sale; 50% collected in the month following sale; 18% collected in the
second month following sale; and the balance is uncollectible.
Sales for the êrst quarter are expected to be: January, $60,000; February, $65,000; and March,
$62,000. April sales are expected to be $70,000.The estimated cash to be collected in April is: a. $56,910 b. $35,910 c. $42,210 d. None of the above
Question 2 Correct Mark 1.00 out of 1.00
C13-17 Samson Company is required by the bank to maintain a minimum cash balance of $8,000.
The company is preparing a cash budget for February. Samson's beginning cash balance is $10,000
and expects cash receipts of $20,500 and cash disbursements of $25,000 (including $3,000 of
depreciation). The company currently owes the bank $20,000. In order to have exactly the required
minimum balance at the end of February, Samson must a. repay $500 b. borrow $500 c. borrow $2 500 d. repay $2 500
Question 3 Correct Mark 1.00 out of 1.00
C13-7 The following information was used by the Atlas Corporation to prepare a cash budget
for September: Cash on hand beginning of September $ 16,000; Expected receipts in September
$272,000; Sales salaries paid 62,000; Material purchases (all cash) 94,000; Depreciation 44,000; Other
expenses (all cash) 96,000. The ending cash in September was expected to be: a. $45,000 b. $22,000 c. $ (8,000) d. $36,000
Question 4 Incorrect Mark 0.00 out of 1.00
C13-2 Atlas Productions expects to sell 85,000 gimlets, its only product, next year. The company
has a beginning inventory of 14,000 units and wants to have an ending inventory of 12,000 at
the end of the year. How many gimlets does Atlas have to produce to meet its goals? a. 85,000 b. 83,000 c. 79,000 d. 97,000
Question 5 Correct Mark 1.00 out of 1.00
C13-10 The master budget begins with a: a. direct materials budget b. sales budget c. direct labor budget d. production budget
Question 6 Correct Mark 1.00 out of 1.00
C13-8 Quantum Leap Inc. is trying to prepare a purchases budget for next month. Given the
following information, how much will the company have to spend for merchandise purchases
next month? Estimated sales 250 units; Estimated beginning inventory 22 ; Estimated ending
inventory 15; Estimated cost per unit $450 a. $115,650 b. $109,350 c. $115,920 d. $112,500
Question 7 Correct Mark 1.00 out of 1.00
C13-11 The schedule of expected disbursements and cash receipts is considered as: a. Market budget b. Price schedule c. Planned scheduled d. Cash budget
Question 8 Correct Mark 1.00 out of 1.00
C13-3 Superior Products makes a special ski. Next year Superior expects to produce 20,000
pairs of skis. Seven pounds of êberglass are required to make each pair of skis. The company
expects to have 21,000 lbs of êberglass in inventory at the end of this year and next year wants
to have an ending inventory of êberglass of 18,000 lbs. How much êberglass does Superior expect to purchase next year? a. 160,000 lbs b. 158,000 lbs c. 140,000 lbs d. 137,000 lbs
Question 9 Correct Mark 1.00 out of 1.00
C13-13 Calculate the production budget from the following data: sales 89,350 units; opening
inventory 23,864 units; closing inventory 33,156 units. a. 80,058 units b. 32,330 units c. 146,370 units d. 98,642 units
Question 10 Correct Mark 1.00 out of 1.00
C13-15 Brutus Company manufactures glass bottles. The company expects to sell 500,000
bottles next year. The budgeted ending inventory this year is 15,000 bottles and the desired
ending inventory for next year is 12,000 bottles. It takes 5 pounds of sand to produce one
bottle. The ending inventory of sand this year is expected to be 200,000 pounds, and the
desired ending inventory next year is 100,000 pounds. The budgeted production of bottles for next year is: a. 497,000 bottles b. 503,000 bottles c. 422,000 bottles d. 512,000 bottles
Question 11 Correct Mark 1.00 out of 1.00
C13-6 Plunkett Products makes all of its sales on credit and monthly sales have been constant
recently. The company's collection experience is as follows: 60% in the month of sale; 30% in
the month following sale; and 10% in the second month following sale. If Plunket's accounts
receivable at the end of April are $440,000, what was the amount of sales in April? a. $968,000 b. None of the above c. $825,000 d. $662,000
Question 12 Correct Mark 1.00 out of 1.00
C13-16 Plexis Corporation projected the following sales data for the êrst six months of next
year: January $30,000 ; February 20,000; March 40,000; April 44,000; May 46,000; June 52,000.
25% of the sales are cash sales. The experience with credit sales is as follows: 30% collected in
the month of sale; 60% collected in the month following sale; and 8% collected in the 2nd
month following sale. The amount expected to be collected in April is: a. $40,100 b. $38,800 c. $42,600 d. $44,700
Question 13 Correct Mark 1.00 out of 1.00
C13-12 Which is the mostly likely purpose of budgeting?
a. Assess the non-ênancial performance of an organization
b. Preparation of a êve-year business plan
c. Planning and control of an organization's income and expenditure d. Company valuation
Question 14 Correct Mark 1.00 out of 1.00
C13-5 Smith & Company estimated its overhead to produce 80,000 units at $1,000,000 (60
percent is variable). If the estimate changes, and Smith now expects to produce 100,000 units,
what would the budgeted overhead be if the cost behavior remains the same? a. $1,250,000 b. $1,450,000 c. $1,150,000 d. $1,050,000
Question 15 Correct Mark 1.00 out of 1.00
C13-9 A master budget in a service organization will typically include a: a. direct materials budget b. direct labor budget
c. merchandise purchases budget d. production budget
Question 16 Correct Mark 1.00 out of 1.00
C13-1 A(n) _____________ is a ênancial plan of the resources needed to carry out activities and meet ênancial goals.
a. contribution margin statement b. comprehensive audit c. budget d. income statement
Question 17 Correct Mark 1.00 out of 1.00
C13-14 The term standard cost refers to the:
a. Budgeted unit cost of product produced in a particular period
b. Average unit cost of product produced by other companies
c. Average unit cost of product produced in the current period
d. Average unit cost of product produced in the previous period
Question 18 Correct Mark 1.00 out of 1.00
C13-4 Extent Incorporated estimates its direct labor costs at 2 hours per unit at an average cost
of $12 per hour. The budgeted direct labor cost to produce 27,000 units of product is: a. $324,000 b. $648,000 c. $470,000 d. $658,000 Multiple Choice Quiz (See related pages) 1
The difference between a planned result and the actual outcome is called a(an): flexible budget. A) operating budget. B) variance. C) financial budget. D) none of the above. E) 2
The Miles Corporation's budgeted revenues and expenses for last period were $400,000 and $250,000, respectively. The actual results were:
revenues, $420,000; expenses, $280,000. The company's profit variance (ignore income tax effects) was: $10,000 unfavorable A) $10,000 favorable B) $20,000 unfavorable C) $20,000 favorable D) None of the above E) 3
A budget that indicates revenues, costs, and profits for different levels of activity is called a: static budget. A) master budget. B) production budget. C) flexible budget. D) none of the above. E) 4
Use the following information to answer questions 4 and 5:
Smith Company's budgeted sales quantity was 80,000 units of product. The company's accountant, using regression analysis, used the
following cost formula to estimate costs at the master budget level for this year: Total cost = $500,000 + ($5.20 x units produced and sold).
The product had a budgeted selling price of $15.20 each. During the year, the actual sales were 82,000 units and selling price was $15.15
per unit. The actual variable costs were $418,200 and the fixed costs were $500,000. Smith's profit variance was: $24,100 favorable A) $24,100 unfavorable B) $26,300 favorable C) $26,300 unfavorable D) None of the above E) 5
Smith's sales price variance was: $4,100 favorable A) $4,100 unfavorable B) $6,300 favorable C) $6,300 unfavorable D) None of the above E) 6
A form providing standard quantities of inputs used to produce a unit of output and the standard prices for the inputs is called a(an): job cost sheet. A) cost of production report. B) standard cost sheet. C) variance report. D) none of the above. E) 7
The difference between the flexible budget for inputs such as direct materials and direct labor and the actual results is the: price variance. A) efficiency variance. B) total quantity variance. C) total cost variance. D) none of the above. E) 8
Use the following information to answer questions 8 – 11:
Britton Corporation's standard cost sheet for variable costs is given below:
Direct material: 2 pounds at $1.20 per pound
Direct labor: 5.5 hours at $7.50 per hour
Last period, Britton purchased and used 30,000 lbs of material and 85,000 hours to produce 15,500 units of its only product, Snuff. The
actual material and labor costs were $37,500 and $642,500, respectively.
The direct material price variance was: $1,200 favorable A) $1,200 unfavorable B) $1,500 favorable C) $1,500 unfavorable D) None of the above E) 9
The direct material efficiency variance was $1,200 favorable A) $1,200 unfavorable B) $1,500 favorable C) $1,500 unfavorable D) None of the above E) 10
The direct labor price variance was: $5,000 favorable A) $5,000 unfavorable B) $1,875 favorable C) $1,875 unfavorable D) None of the above E) 11
The direct labor efficiency variance was: $5,000 favorable A) $5,000 unfavorable B) $1,875 favorable C) $1,875 unfavorable D) None of the above E) 12
Use the following information to answer questions 12 – 17:
The manager of Laura's Lamps needed information regarding the company's overhead. She felt that there was a problem and asked Laura's
accountant to give her a breakdown of the variable and fixed overhead variances. The company experienced the following last period: •
The company produced 50,000 lamps and incurred the following overhead costs: variable overhead, $88,000; fixed overhead, $67,000. •
Overhead rates were based on direct labor hours. The budgeted DL hours were 40,000 hours and the budgeted overhead was:
variable, $80,000; fixed, $60,000. The standard hours allowed for each unit produce is 0.85 hours. •
The amount of actual direct labor hours was 42,000 hours.
The variable overhead standard rate per direct labor hour was: $1.00 A) $1.50 B) $2.00 C) $2.50 D) None of the above E) 13
The variable overhead price variance was: $1,000 F A) $1,000 U