101.
Mandy Company has the following direct labor costs last month:
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What was Mandy’s
direct labor flexible-budget variance?
A.
$15,120 unfavorable.
B.
$20,800 unfavorable.
C.
$36,720 favorable.
D.
$42,480 favorable.
E.
$79,920 favorable.
102.
A company’s flexible
budget for 15,000 units of production showed sales of $48,000; variable costs
of $18,000; and fixed costs of $12,000. The operating income in the master
budget for 20,000 units is:
A.
$8,000.
B.
$13,500.
C.
$24,000.
D.
$28,000.
E.
$30,000.
103. A
company’s master budget for October is to manufacture and sell 30,000 units for
a total of $270,000 with total variable costs of $180,000 and total fixed costs
of $24,000. The company actually manufactured and sold 32,000 units and generated
$45,000 of operating income in October. The flexible-budget operating income in
October is:
A.
$27,000.
B.
$70,400.
C.
$72,000.
D.
$83,520.
E.
$86,400.
104. A
company’s master budget for October is to manufacture and sell 30,000 units for
a total of $270,000 with total variable costs of $180,000 and total fixed costs
of $24,000. The company actually manufactured and sold 32,000 units and
generated $45,000 of operating income in October. The operating income
flexible-budget (FB) variance is:
A.
$3,600 unfavorable.
B.
$6,000 unfavorable.
C.
$15,400 unfavorable.
D.
$21,000 unfavorable.
E.
$27,000 unfavorable.
105. A
company’s master budget for October is to manufacture and sell 30,000 units for
a total of $270,000 with total variable costs of $180,000 and total fixed costs
of $24,000. The company actually manufactured and sold 32,000 units and
generated $45,000 of operating income in October. The sales volume variance, in
terms of operating income, for October is:
A.
$3,600 favorable.
B.
$6,000 favorable.
C.
$15,400 favorable.
D.
$21,000 favorable.
106. In
September, Larson Inc. sold 40,000 units of its only product for $240,000 and
incurred a total cost of $225,000, of which $25,000 is fixed costs. The
flexible budget for September showed total sales of $300,000. Among variances
of the period were: total variable cost flexible-budget variance, $8,000U;
total flexible-budget variance, $63,000U; and, sales volume variance, in terms
of contribution margin, $27,000U. The actual amount of operating income earned
in September was:
A.
$15,000.
B.
$40,000.
C.
$63,000.
D.
$78,000.
E.
$105,000.
107. In
September, Larson Inc. sold 40,000 units of its only product for $240,000 and
incurred a total cost of $225,000, of which $25,000 is fixed costs. The
flexible budget for September showed total sales of $300,000. Among variances
of the period were: total variable cost flexible-budget variance, $8,000U;
total flexible-budget variance, $63,000U; and, sales volume variance, in terms
of contribution margin, $27,000U. The total amount of variable costs in the
flexible budget for September was:
A.
$129,000.
B.
$192,000.
C.
$200,000.
D.
$208,000.
E.
$255,000.
108. In
September, Larson Inc. sold 40,000 units of its only product for $240,000 and
incurred a total cost of $225,000, of which $25,000 is fixed costs. The
flexible budget for September showed total sales of $300,000. Among variances
of the period were: total variable cost flexible-budget variance, $8,000U;
total flexible-budget variance, $63,000U); and, sales volume variance, in terms
of contribution margin, $27,000U). The amount of operating income in the
flexible budget (FB) for September was:
A.
$40,000.
B.
$48,000.
C.
$56,000.
D.
$70,000.
E.
$78,000.
109. In
September, Larson Inc. sold 40,000 units of its only product for $240,000 and
incurred a total cost of $225,000, of which $25,000 is fixed costs. The
flexible budget for September showed total sales of $300,000. Among variances
of the period were: total variable cost flexible-budget variance, $8,000U;
total flexible-budget variance, $63,000U; and, sales volume variance, in terms
of contribution margin, $27,000U.The budgeted fixed cost is:
A.
$30,000.
B.
$45,000.
C.
$71,000.
D.
$78,000.
E.
$93,000.
110. In
September, Larson Inc. sold 40,000 units of its only product for $240,000 and
incurred a total cost of $225,000, of which $25,000 is fixed costs. The
flexible budget for September showed total sales of $300,000. Among variances
of the period were: total variable cost flexible-budget variance, $8,000U;
total flexible-budget variance, $63,000U; and, sales volume variance, in terms
of contribution margin, $27,000U. The sales volume variance, in terms of
operating income, is:
A.
$20,000 unfavorable.
B.
$27,000 unfavorable.
C.
$36,000 unfavorable.
D.
$75,000 unfavorable.
E.
$90,000 unfavorable.
111.
In September, Larson
Inc. sold 40,000 units of its only product for $240,000 and incurred a total
cost of $225,000, of which $25,000 is fixed costs. The flexible budget for
September showed total sales of $300,000. Among variances of the period were:
total variable cost flexible-budget variance, $8,000U; total flexible-budget
variance, $63,000U; and, sales volume variance, in terms of contribution
margin, $27,000U. The master budget operating income for September was:
A.
$78,000.
B.
$105,000.
C.
$108,000.
D.
$110,000.
E.
$135,000.
112. In
September, Larson Inc. sold 40,000 units of its only product for $240,000 and
incurred a total cost of $225,000, of which $25,000 is fixed costs. The
flexible budget for September showed total sales of $300,000. Among variances
of the period were: total variable cost flexible-budget variance, $8,000U;
total flexible-budget variance, $63,000U; and, sales volume variance, in terms
of contribution margin, $27,000U. The total number of budgeted units reflected
in the master budget for September was:
A.
36,000 units.
B.
40,000 units.
C.
45,000 units.
D.
48,000 units.
E.
50,000 units.
113. In
September, Larson Inc. sold 40,000 units of its only product for $240,000 and
incurred a total cost of $225,000, of which $25,000 is fixed costs. The
flexible budget for September showed total sales of $300,000. Among variances
of the period were: total variable cost flexible-budget variance, $8,000U;
total flexible-budget variance, $63,000U; and, sales volume variance, in terms
of contribution margin, $27,000U. The total sales revenue in the master budget
for September was:
A.
$300,000.
B.
$327,000.
C.
$350,000.
D.
$375,000.
E.
$425,000.
114. Shoemaker
Perkins Company uses a standard cost system and had 400 pounds of raw material
X15 on hand on September 1. The standard cost is $10 per pound. The standard
calls for 2 pounds of material X15 for each unit of the product manufactured.
The company manufactured 600 units of the product in September, and had 500
pounds of Material X-15 in stock on September 30. The actual price for Material
X-15 purchased during the month was $1 per pound below the standard cost. The material
usage variance in September was $3,000 unfavorable. What is the purchase-price
variance for Material X in September?
A.
$1,100 favorable.
B.
$1,200 favorable.
C.
$1,300 favorable.
D.
$1,500 favorable.
E.
$1,600 favorable.
115. Sheldon
Company manufactures only one product and uses a standard cost system. During
the past month, the manufacturing operations had the following variances:
Direct labor rate variance = $30,000 Favorable. Direct labor efficiency
variance = $50,000 Unfavorable. Sheldon allows 5 standard direct labor hours
per unit produced, and its standard direct labor hourly rate is $50. During the
month, the company used 25 percent more direct labor hours than the standard
allowed. What was the direct labor flexible-budget (FB) variance for the month?
A.
$20,000 unfavorable.
B.
$25,000 unfavorable.
C.
$37,500 favorable.
D.
$62,500 unfavorable.
E.
$80,000 unfavorable.
116. Sheldon
Company manufactures only one product and uses a standard cost system. During
the past month, the manufacturing operations had the following variances:
Direct labor rate variance = $30,000 Favorable; direct labor efficiency
variance = $50,000 Unfavorable. Sheldon allows 5 standard direct labor hours
per unit produced, and its standard direct labor hourly rate is $50. During the
month, the company used 25 percent more direct labor hours than the standard
allowed. What were the total standard hours allowed for the units manufactured
during the month?
A.
1,000.
B.
2,500.
C.
4,000.
D.
5,000.
E.
6,000.
117. Sheldon
Company manufactures only one product and uses a standard cost system. During
the past month, the manufacturing operations had the following variances:
Direct labor rate variance $30,000 Favorable; direct labor efficiency variance
$50,000 Unfavorable. Sheldon allows 5 standard direct labor hours per unit
produced, and its standard direct labor hourly rate is $50. During the month,
the company used 25 percent more direct labor hours than the standard allowed.
What were the total actual direct hours worked?
A.
1,000.
B.
3,000.
C.
4,000.
D.
5,000.
E.
6,000.
118.Sheldon Company
manufactures only one product and uses a standard cost system. During the past
month, the manufacturing operations had the following variances: Direct labor
rate variance = $30,000 Favorable; direct labor efficiency variance = $50,000
Unfavorable. Sheldon allows 5 standard direct labor hours per unit produced,
and its standard direct labor hourly rate is $50. During the month, the
company
used 25 percent more direct labor hours than the standard allowed. What was the
actual hourly rate for direct labor?
A.
$30.
B.
$36.
C.
$44.
D.
$50.
E.
$56.
119. Sheldon
Company manufactures only one product and uses a standard cost system. During
the past month, the manufacturing operations had the following variances:
Direct labor rate variance $30,000 Favorable. Direct labor efficiency variance
50,000 Unfavorable Sheldon allows 5 standard direct labor hours per unit
produced, and its standard direct labor hourly rate is $50. During the month,
the company used 25 percent more direct labor hours than the standard allowed.
How many units of the product were produced during the past month?
A.
800.
B.
1,000.
C.
1,200.
D.
1,500.
E.
2,000.
120. Ventura
uses a just-in-time (JIT) manufacturing system for all of its materials,
components, and products. The master budget of the company for June called for
use of 11,000 square feet of materials, while the flexible budget for the
actual output of the month had 10,000 square feet of materials at a standard
cost of $9.60 per square foot. Company records show that the actual price paid
for the materials used in June was $9.50 per square foot, and that the direct
materials purchase-price variance for the month was $1,040.
The actual total
quantity of materials purchased during the month was:
A.
10,000 square feet.
B.
10,400 square feet.
C.
11,000 square feet.
D.
13,840 square feet.
E.
14,880 square feet.
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