1.

	Standard	Actual
Variable OH Rate	$3.35
Fixed OH Rate	$1.80
Hours	18,900	17,955
Fixed Overhead	$46,000
Actual Variable Overhead		$67,430
Total Factory Overhead		$101,450

Calculate the variable factory overhead controllable variance using the above information:

A) $8,981.75 Unfavorable B) $8,981.75 Favorable C) $7,280.75 Favorable D) $7,280.75 Unfavorable

2.

The debits to Work in Process--Assembly Department for April, together with data concerning production, are as follows:

April 1, work in process:
Materials cost, 3,000 units	$ 8,000
Conversion costs, 3,000 units,
66.7% completed	6,000
Materials added during April, 10,000 units	30,000
Conversion costs during April	31,000
Goods finished during April, 11,500 units	---
April 30 work in process, 1,500 units,
50% completed	---

All direct materials are placed in process at the beginning of the process and the first-in, first-out method is used to cost inventories. The materials cost per equivalent unit for April is:

A) $3.80 B) $3.00 C) $2.31 D) $2.92

3.

Marcye Co. manufactures office furniture. During the most productive month of the year, 3,500 desks were manufactured at a total cost of $84,400. In its slowest month, the company made 1,100 desks at a cost of $46,000. Using the high-low method of cost estimation, total fixed costs are:

A) $17,600 B) $56,000 C) $28,400 D) cannot be determined from the data given

4.

	Standard	Actual
Variable OH Rate	$3.35
Fixed OH Rate	$1.80
Hours	18,900	17,955
Fixed Overhead	$46,000
Actual Variable Overhead		$67,430
Total Factory Overhead		$101,450

Calculate the fixed factory overhead volume variance using the above information:

A) $1,701 Unfavorable B) $4,866.75 Unfavorable C) $1,701 Favorable D) $4,866.75 Favorable

5.

The cost system best suited to industries that manufacture a large number of identical units of commodities on a continuous basis is:

A) departmental B) first-in, first-out C) job order D) process

6.

Below is budgeted production and sales information for Flushing Company for the month of December:

	Product XXX	Product ZZZ
Estimated beginning inventory	30,000 units	18,000 units
Desired ending inventory	34,000 units	17,000 units
Region I, anticipated sales	320,000 units	260,000 units
Region II, anticipated sales	180,000 units	140,000 units

The unit selling price for product XXX is $6 and for product ZZZ is $15. Budgeted production for product XXX during the month is:

A) 572,000 units B) 504,000 units C) 496,000 units D) 542,000 units

7.

	Standard	Actual
Variable OH Rate	$3.35
Fixed OH Rate	$1.80
Hours	18,900	17,955
Fixed Overhead	$46,000
Actual Variable Overhead		$67,430
Total Factory Overhead		$101,450

Calculate the total factory overhead cost variance using the above information:

A) $8,981.75 Favorable B) $8,981.75 Unfavorable C) $4,866.75 Favorable D) $4,866.75 Unfavorable

8.

Contribution margin is:

A) profit B) the same as sales revenue C) another term for volume in the "cost-volume-profit" analysis D) the excess of sales revenue over variable cost

MAKSE SURE ALL ANSWERS ARE CORRECT :)