1. The difference between the total budgeted fixed overhead cost and the fixed overhead applied to production using the predetermined overhead rate is the:

Production variance.

Volume variance.

Overhead cost variance.

Quantity variance.

Controllable variance

2.

A company uses the following standard costs to produce a single unit of output. During the latest month, the company purchased and used 58,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $56,350 based on 4,900 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $15,000 and fixed manufacturing overhead incurred was $10,400. Based on this information, the direct labor rate variance for the month was:

$1,200 favorable

$3,650 favorable

$2,450 favorable

$3,650 unfavorable

$1,200 unfavorable

3.

Which of the following budgets must be completed before a cash budget can be prepared?

		Capital expenditures budget.
		Sales budget.
		Merchandise purchases budget.
		General and administrative expense budget.
		All of these.

1. The difference between the total budgeted fixed overhead cost and the fixed overhead applied to production using the predetermined overhead rate is the: Production variance. Volume variance. Overhead cost variance. Quantity variance. Controllable variance 2. A company uses the following standard costs to produce a single unit of output. During the latest month, the company purchased and used 58,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $56,350 based on 4,900 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $15,000 and fixed manufacturing overhead incurred was $10,400. Based on this information, the direct labor rate variance for the month was: $1,200 favorable $3,650 favorable $2,450 favorable $3,650 unfavorable $1,200 unfavorable 3. Which of the following budgets must be completed before a cash budget can be prepared? Capital expenditures budget. Sales budget. Merchandise purchases budget. General and administrative expense budget. All of these