103. A company’s master budget for October is to manufacture and sell 30,000 units for a total
sales revenue of $270,000, 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 was:
104. A company’s master budget for October is to manufacture and sell 30,000 units for a total
sales revenue of $270,000, 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 total flexible-budget (FB) variance for operating income was:
105. A company’s master budget for October is to manufacture and sell 30,000 units for a total
sales revenue of $270,000, 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 was:
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:
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:
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:
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 for September was:
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, for September was:
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:
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:
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:
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 of X15 is $10 per pound. The
production 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?
115. Sheldon Company manufactures only one product and uses a standard cost system.
During the past month, manufacturing operations for the company 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 pay rate is $50. During the month, the company used 25% more direct labor
hours than the standard allowed.
What was the direct labor flexible-budget (FB) variance for the month?
116. Sheldon Company manufactures only one product and uses a standard cost system.
During the past month, manufacturing operations for the company 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 pay rate is $50. During the month, the company used 25% more direct labor
hours than the standard allowed.
What were the total standard hours allowed (SQ) for the units manufactured during the month?
117. Sheldon Company manufactures only one product and uses a standard cost system.
During the past month, manufacturing operations for the company 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 pay rate is $50. During the month, the company used 25% more direct labor
hours than the standard allowed.
What were the total actual direct hours worked (AQ)?
118. Sheldon Company manufactures only one product and uses a standard cost system.
During the past month, manufacturing operations for the company 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 pay rate is $50. During the month, the company used 25% more direct labor
hours than the standard allowed.
What was the actual hourly rate (AP) for direct labor?
119. Sheldon Company manufactures only one product and uses a standard cost system.
During the past month, manufacturing operations for the company 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 pay rate is $50. During the month, the company used 25% more direct labor
hours than the standard allowed.
How many units of the product were produced during the past month?
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 (SP) of $9.60 per square foot. Company records show
that the actual price paid (AP) 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:
121. 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 (SP) of $9.60 per square foot. Company records show
that the actual price paid (AP) 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 materials usage (quantity) variance for June was: