Chapter 10 Quiz 0 Swed Help Save & Exit Submit Majer Corporation makes a product with the following standard costs: 5 Standard Quantity or Hours 2.0 ounces 0.8 hours 0.8 hours Standard Cost Per Unit $26.00 $15.20 $9.29 Standard Price or Rate $ 13.00 per ounce $ 19.00 per hour $ 11.50 per hour Direct materials Direct labor Variable overhead Skipped The company reported the following results concerning this product in February Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price of raw materials Actual direct labor rate Actual variable overhead rate 12,000 units 11,800 units 18,000 ounces 9,640 hours 19,600 ounces $ 12.75 per ounce $ 19.20 per hour $ 10.70 per hour The company applies variable overhead on the basis of direct labor hours. The direct materials purchases variance is computed when the materials are purchased. The materials price variance for February is: The company applies variable overhead on the basis of direct labor-hours. The di computed when the materials are purchased. 5 The materials price variance for February is: Skipped Multiple Choice $77,300 U $77,300 F $4,900 F $4.900 U Mc Graw Help Save & Exit Submit Majer Corporation makes a product with the following standard costs: 6 Standard Quantity or Hours 6.4 ounces 0.7 hours 0.7 hours Direct materials Direct labor Variable overhead Standard Price or Rate $ 3.00 per ounce $ 19.00 per hour $ 3.00 per hour Standard Cost Per Unit $19.20 $13.30 $ 2.10 Shipped The company reported the following results concerning this product in February Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price of raw materials Actual direct labor rate Actual variable overhead rate 4,700 units 5,200 units 30,400 ounces 2,100 hours 32,800 ounces $ 87.10 per ounce $ 77.60 per hour $ 6.00 per hour The company applles variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased The variable overhead efficiency variance for February is Chapter 10 Quiz The variable overhead efficiency variance for February is: 6 Skipped Multiple Choice $4,620 U $4,615 F $4,620 F $4,615 F Majer Corporation makes a product with the following standard costs: 7 Standard Quantity or Hours 6.8 ounces 0.4 hours 0.4 hours Direct materials Direct labor Variable overhead Standard Cost Per Unit $20.40 $ 6.00 $ 1.20 Standard Price or Rate $ 3.00 per ounce $ 15.00 per hour $ 3.00 per hour Skipped The company reported the following results concerning this product in February Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price of raw materials Actual direct labor rate Actual variable overhead rate 5,400 units 8,200 units 30,500 ounces 1,950 hours 32,900 ounces $ 62.90 per ounce $ 72.40 per hour $ 2.30 per hour The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead rate variance for February is: Chapter 10 Quiz The variable overhead rate variance for February is: 7 Skipped Multiple Choice O $1.365 $1,370 F $1,365 U $1370 U Nayt Saved Help Save & Exit Chapter 10 Quiz The following labor standards have been established for a particular product: 00 Standard labor-hours per unit of output Standard labor rate 9.0 hours $16.00 per hour Skipped The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labor cost Actual output 11, 100 hours $174,270 1,700 units What is the labor rate variance for the month? Multiple Choice $510 F Help Save The following labor standards have been established for a particular product: 9 Standard labor-hours per unit of output Standard labor rate 9.8 hours $13.60 per hour Skipped The following data pertain to operations concerning the product for the last month Actual hours worked Actual total labor cost Actual output 7,600 hours $100,320 950 units What is the labor efficiency variance for the month? Multiple Choice $26.296 F MC Gew HI