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  • 38.

    The materials price variance for May is:

    • A.

      $360 F

    • b.

      $360 U

    • c.

      $740 F

    • d.

      $740 U

Materials price variance = (Actual quantity purchased × Actual price) - (Purchase quantity × Standard price) = $9,540 - (3,600 × $2.75) = $360 favorable

  • 39.

    The materials quantity variance for May is:

    • a.

      $1,650 F

    • b.

      $1,650 U

    • C.

      $550 U

    • d.

      $720 F

Standard quantity = Standard quantity per unit × Actual output = 2 × 1,500 = 3,000 Materials quantity variance = Standard price × (Actual quantity - Standard quantity) = $2.75 × (3,200 - 3,000) = $550 unfavorable

  • 40.

    The labor rate variance for May is:

    • a.

      $225 F

    • b.

      $225 U

    • c.

      $450 F

    • D.

      $450 U

Labor rate variance = (Actual hours × Actual rate) - (Actual hours × Standard rate) = $5,550 - (340 × $15) = $450 unfavorable

  • 41.

    The labor efficiency variance for May is:

    • a.

      $600 F

    • B.

      $600 U

    • c.

      $515 U

    • d.

      $515 F

Standard hours = Standard hours per unit × Actual output = 0.2 × 1,500 = 300 Labor efficiency variance = Standard rate × (Actual hours - Standard hours) = $15 × (340 - 300) = $600 unfavorable

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