61.
In general, the direct labor efficiency variance is the responsibility of the:
62.
The variable overhead price variance is due to:
63.
If overhead is applied to production using direct labor hours and the direct labor efficiency
variance is favorable, then the variable overhead efficiency variance is:
64.
TaskMaster Enterprises employs a standard cost system in which direct materials
inventory is carried at standard cost. TaskMaster has established the following standards
for the prime costs of one unit of product.
Standard
Quantity
Standard
Price
Standard
Cost
Direct
Materials
8 pounds
$1.80 per
pound
$14.40
Direct Labor
.25 hour
$8.00 per
hour
2.00
$16.40
During November, TaskMaster purchased 160,000 pounds of direct materials at a total
cost of $304,000. The total factory wages for November were $42,000, 90% of which were
for direct labor. TaskMaster manufactured 19,000 units of product during November using
142,500 pounds of direct materials and 5,000 direct labor hours.
What is the direct materials price variance for November?
65.
TaskMaster Enterprises employs a standard cost system in which direct materials
inventory is carried at standard cost. TaskMaster has established the following standards
for the prime costs of one unit of product.
Standard
Quantity
Standard
Price
Standard
Cost
Direct
Materials
8 pounds
$1.80 per
pound
$14.40
Direct Labor
.25 hour
$8.00 per
hour
2.00
$16.40
During November, TaskMaster purchased 160,000 pounds of direct materials at a total
cost of $304,000. The total factory wages for November were $42,000, 90% of which were
for direct labor. TaskMaster manufactured 19,000 units of product during November using
142,500 pounds of direct materials and 5,000 direct labor hours.
Is the direct materials price variance favorable or unfavorable?
66.
TaskMaster Enterprises employs a standard cost system in which direct materials
inventory is carried at standard cost. TaskMaster has established the following standards
for the prime costs of one unit of product.
Standard
Quantity
Standard
Price
Standard
Cost
Direct
Materials
8 pounds
$1.80 per
pound
$14.40
Direct Labor
.25 hour
$8.00 per
hour
2.00
$16.40
During November, TaskMaster purchased 160,000 pounds of direct materials at a total
cost of $304,000. The total factory wages for November were $42,000, 90% of which were
for direct labor. TaskMaster manufactured 19,000 units of product during November using
142,500 pounds of direct materials and 5,000 direct labor hours.
What is the direct materials efficiency (quantity) variance for November?
67.
TaskMaster Enterprises employs a standard cost system in which direct materials
inventory is carried at standard cost. TaskMaster has established the following standards
for the prime costs of one unit of product.
Standard
Quantity
Standard
Price
Standard
Cost
Direct
Materials
8 pounds
$1.80 per
pound
$14.40
Direct Labor
.25 hour
$8.00 per
hour
2.00
$16.40
During November, TaskMaster purchased 160,000 pounds of direct materials at a total
cost of $304,000. The total factory wages for November were $42,000, 90% of which were
for direct labor. TaskMaster manufactured 19,000 units of product during November using
142,500 pounds of direct materials and 5,000 direct labor hours.
Is the direct materials efficiency (quantity) variance favorable or unfavorable?
68.
TaskMaster Enterprises employs a standard cost system in which direct materials
inventory is carried at standard cost. TaskMaster has established the following standards
for the prime costs of one unit of product.
Standard
Quantity
Standard
Price
Standard
Cost
Direct
Materials
8 pounds
$1.80 per
pound
$14.40
Direct Labor
.25 hour
$8.00 per
hour
2.00
$16.40
During November, TaskMaster purchased 160,000 pounds of direct materials at a total
cost of $304,000. The total factory wages for November were $42,000, 90% of which were
for direct labor. TaskMaster manufactured 19,000 units of product during November using
142,500 pounds of direct materials and 5,000 direct labor hours.
What is the direct labor price (rate) variance for November?
69.
TaskMaster Enterprises employs a standard cost system in which direct materials
inventory is carried at standard cost. TaskMaster has established the following standards
for the prime costs of one unit of product.
Standard
Quantity
Standard
Price
Standard
Cost
Direct
Materials
8 pounds
$1.80 per
pound
$14.40
Direct Labor
.25 hour
$8.00 per
hour
2.00
$16.40
During November, TaskMaster purchased 160,000 pounds of direct materials at a total
cost of $304,000. The total factory wages for November were $42,000, 90% of which were
for direct labor. TaskMaster manufactured 19,000 units of product during November using
142,500 pounds of direct materials and 5,000 direct labor hours.
Is the direct labor price (rate) variance favorable or unfavorable?
70.
TaskMaster Enterprises employs a standard cost system in which direct materials
inventory is carried at standard cost. TaskMaster has established the following standards
for the prime costs of one unit of product.
Standard
Quantity
Standard
Price
Standard
Cost
Direct
Materials
8 pounds
$1.80 per
pound
$14.40
Direct Labor
.25 hour
$8.00 per
hour
2.00
$16.40
During November, TaskMaster purchased 160,000 pounds of direct materials at a total
cost of $304,000. The total factory wages for November were $42,000, 90% of which were
for direct labor. TaskMaster manufactured 19,000 units of product during November using
142,500 pounds of direct materials and 5,000 direct labor hours.
What is the direct labor efficiency variance for November?
71.
TaskMaster Enterprises employs a standard cost system in which direct materials
inventory is carried at standard cost. TaskMaster has established the following standards
for the prime costs of one unit of product.
Standard
Quantity
Standard
Price
Standard
Cost
Direct
Materials
8 pounds
$1.80 per
pound
$14.40
Direct Labor
.25 hour
$8.00 per
hour
2.00
$16.40
During November, TaskMaster purchased 160,000 pounds of direct materials at a total
cost of $304,000. The total factory wages for November were $42,000, 90% of which were
for direct labor. TaskMaster manufactured 19,000 units of product during November using
142,500 pounds of direct materials and 5,000 direct labor hours.
Is the direct labor efficiency variance favorable or unfavorable?
16–51
72.
The following information summarizes the standard cost for producing one metal tennis
racket frame at Spaulding Industries. In addition, the variances for one month’s production
are given. Assume that all inventory accounts have zero balances at the beginning of the
month.
Standard
Cost
Per Unit
Standard
Monthly
Costs
Materials
$4.00
$8,400
Direct Labor 2 hrs. @
$2.60
5.20
10,920
Factory Overhead:
Variable
1.80
3,780
Fixed
5.00
10,500
$16.00
$33,600
Variances:
Material price
244.75 unfavorable
Material quantity
500.00 unfavorable
Labor rate
520.00 favorable
Labor efficiency
2,080.00 unfavorable
What were the actual direct labor hours worked during the month?
73.
The following information summarizes the standard cost for producing one metal tennis
16–52
racket frame at Spaulding Industries. In addition, the variances for one month’s production
are given. Assume that all inventory accounts have zero balances at the beginning of the
month.
Standard
Cost
Per Unit
Standard
Monthly
Costs
Materials
$4.00
$8,400
Direct Labor 2 hrs. @
$2.60
5.20
10,920
Factory Overhead:
Variable
1.80
3,780
Fixed
5.00
10,500
$16.00
$33,600
Variances:
Material price
244.75 unfavorable
Material quantity
500.00 unfavorable
Labor rate
520.00 favorable
Labor efficiency
2,080.00 unfavorable
What was the actual quantity of materials used during the month?
74.
The following information summarizes the standard cost for producing one metal tennis
racket frame at Spaulding Industries. In addition, the variances for one month’s production
are given. Assume that all inventory accounts have zero balances at the beginning of the
month.
Standard
Cost
Per Unit
Standard
Monthly
Costs
Materials
$4.00
$8,400
Direct Labor 2 hrs. @
$2.60
5.20
10,920
Factory Overhead:
Variable
1.80
3,780
Fixed
5.00
10,500
$16.00
$33,600
Variances:
Material price
244.75 unfavorable
Material quantity
500.00 unfavorable
Labor rate
520.00 favorable
Labor efficiency
2,080.00 unfavorable
What was the actual price paid for the direct material during the month, assuming all
materials purchased were put into production?
75.
Data on Gantry Company’s direct-labor costs are given below:
Standard direct-labor hours
30,000
Actual direct-labor hours
29,000
Direct-labor efficiency variance-
favorable
$4,000
Direct-labor rate variance-favorable
$5,800
Total direct labor payroll
$110,200
76.
Data on Gantry Company’s direct-labor costs are given below:
Standard direct-labor hours
30,000
Actual direct-labor hours
29,000
Direct-labor efficiency variance-
favorable
$4,000
Direct-labor rate variance-favorable
$5,800
Total direct labor payroll
$110,200
77.
16–57
78.
Information on Kimble Company’s direct labor costs for the month of January is as follows:
Actual direct labor hours
34,500
Standard direct labor hours
35,000
Total direct labor payroll
$241,500
Direct labor efficiency variance-
favorable
$3,200
79.
Information on Kimble Company’s direct labor costs for the month of January is as follows:
Actual direct labor hours
34,500
Standard direct labor hours
35,000
Total direct labor payroll
$241,500
Direct labor efficiency variance-
favorable
$3,200
80.
The following data pertains to the direct materials cost for the month of October:
Standard costs
5,000 units allowed at $20 each
Actual costs
5,050 units input at $19 each
What is the direct materials efficiency (quantity) variance?
81.
The Fellowes Company has developed standards for labor. During June, 75 units were
scheduled and 100 were produced. Data related to labor are:
Standard hours
allowed
3 hours per unit
Standard wages
allowed
$4.00 per hour
Actual direct labor
310 hours (total cost
$1,209)
What is the labor rate variance for June?