Chapter 17 Additional Topics in Variance Analysis Answer Key
True / False Questions
1.
2.
Topic: Profit Variance Analysis When Units Produced Do Not Equal Units Sold
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
Multiple Choice Questions
23.
24.
25.
26.
27.
28.
29.
Ingredient A12H is a raw material used to make Calvin Corporation’s major product. The
standard cost of Ingredient A12H is $23.00 per ounce and the standard quantity is 3.8
ounces per unit of output. Data concerning the compound for October appear below:
Cost of material purchased in October,
per ounce
$23.10
Material purchased in October, ounces
2,300
Material used in production in October,
ounces
2,120
Actual output in October, units
600
30.
Ingredient A12H is a raw material used to make Calvin Corporation’s major product. The
standard cost of Ingredient A12H is $23.00 per ounce and the standard quantity is 3.8
ounces per unit of output. Data concerning the compound for October appear below:
Cost of material purchased in October,
per ounce
$23.10
Material purchased in October, ounces
2,300
Material used in production in October,
ounces
2,120
Actual output in October, units
600
ounces*)
31.
Ingredient A12H is a raw material used to make Calvin Corporation’s major product. The
standard cost of Ingredient A12H is $23.00 per ounce and the standard quantity is 3.8
ounces per unit of output. Data concerning the compound for October appear below:
Cost of material purchased in October,
per ounce
$23.10
Material purchased in October, ounces
2,300
Material used in production in October,
ounces
2,120
Actual output in October, units
600
ounces)
Material Price Variance 2,300
32.
Ingredient A12H is a raw material used to make Calvin Corporation’s major product. The
standard cost of Ingredient A12H is $23.00 per ounce and the standard quantity is 3.8
ounces per unit of output. Data concerning the compound for October appear below:
Cost of material purchased in October,
per ounce
$23.10
Material purchased in October, ounces
2,300
Material used in production in October,
ounces
2,120
Actual output in October, units
600