Homework Answers
Materials quantity variance = Standard price * (Standard quantity - Actual quantity)
The answer is Quantity variance.
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The difference between actual quantity of input used and the standard quantity of input used results in a Multiple...
17. When computing variances, the difference between standard price multiplied by actual quantity yields a(n): A....
17. When computing variances, the difference between standard price multiplied by actual quantity yields a(n): A. flexible budget B. planning budget C. actual results D. all of these E. none of these 18. When computing standard cost variances, the difference between actual and standard prices yields a(n): A. actual results B. volume variance C. price variance D. quantity variance E. none of these
The difference between the actual cost of the input and its planned cost is the total...
The difference between the actual cost of the input and its planned cost is the total budget variance. the usage variance. the price variance. the efficiency variance. the budget variance. 4.5 points Save Answer QUESTION 17 O The labor efficiency variance is calculated by the equation (Standard Hours' Actual Hours) - (Actual Hours 'Standard Rate). (Actual Rate' Actual Hours) - (Standard Rate' Actual Hours). (Actual Hours 'Standard Rate) - (Standard Hours 'Standard Rate). (Standard Hours' Actual Rate) - (Actual
1. Which of the following variances is the difference between the actual cost of the input...
1. Which of the following variances is the difference between the actual cost of the input and its planned cost? Total labor variance Materials usage variance Total budget variance Materials price variance c 2. Which of the following conditions leads to an unfavorable price variance? It occurs when the actual usage of input is greater than the standard usage of input. It occurs when the actual price is greater than the standard price. It occurs when the standard price is...
The formula SP * (SQ - AQ) is the: Multiple Choice 0 direct materials quantity variance....
The formula SP * (SQ - AQ) is the: Multiple Choice 0 direct materials quantity variance. 0 direct materials volume variance. 0 direct materials price variance. 0 direct materials spending variance. The difference between the actual labor rate and the standard labor rate, multiplied by the actual labor hours, is the Multiple Choice o direct labor volume variance. o direct labor spending variance. o direct labor efficiency variance. o direct labor rate variance.
1.) A standard cost system: Multiple Choice: (A) Cannot be used in conjunction with a job-cost...
1.) A standard cost system: Multiple Choice: (A) Cannot be used in conjunction with a job-cost system. (B) Is not permissible for financial-reporting purposes. (C.) Is most easily introduced in conjunction with a process-cost system. (D) Is useful for planning but not control purposes. (E.) Is useful for cost control but not planning purposes. 2.) Which one of the following is the difference in direct material costs between the actual cost incurred during the period and the total standard cost...
_ 16. The total manufacturing cost variance is a. the difference between actual costs and standard...
_ 16. The total manufacturing cost variance is a. the difference between actual costs and standard costs for units produced b. the flexible budget variance plus the time variance c. the difference between planned costs and standard costs for units produced d. None of these choices
Difference between budgeted amounts and actual results is classified as Difference between budgeted amounts and actual...
Difference between budgeted amounts and actual results is
classified as
Difference between budgeted amounts and actual results is classified as Pick a choice: budgeting deviation budgeting variances budgeting gap budgeting differences budgeting discrepancies
The difference between the total actual overhead cost incurred during a period and budgeted total factory...
The difference between the total actual overhead cost incurred during a period and budgeted total factory overhead cost for the actual quantity of the cost driver used to apply overhead is equal to the: Multiple Choice A: Total overhead spending variance. B: Total overhead efficiency variance. C: Factory overhead production-volume variance. D: Total overhead rate variance. E: Total overhead variance.
Explanation not necessary When is the direct labor time variance favorable? A. when the actual quantity used is les...
Explanation not necessary When is the direct labor time variance favorable? A. when the actual quantity used is less than the standard quantity B. when the actual quantity used is greater than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price is less than the standard price A flexible budget A. gives actual figures for selling price B. gives actual figures for variable and fixed overhead C. is not...
The variable overhead spending variance is calculated as: A. Actual Cost- (actual quantity x standard price)...
The variable overhead spending variance is calculated as: A. Actual Cost- (actual quantity x standard price) B. Actual Cost -(standard quantity x standard price) C. Standard Cost - (Acutal quantity x actual price) D. Actual results minus flexible budget amount. (C is NOT the correct answer).
17. When computing variances, the difference between standard price multiplied by actual quantity yields a(n): A. flexible budget B. planning budget C. actual results D. all of these E. none of these 18. When computing standard cost variances, the difference between actual and standard prices yields a(n): A. actual results B. volume variance C. price variance D. quantity variance E. none of these
The difference between the actual cost of the input and its planned cost is the total budget variance. the usage variance. the price variance. the efficiency variance. the budget variance. 4.5 points Save Answer QUESTION 17 O The labor efficiency variance is calculated by the equation (Standard Hours' Actual Hours) - (Actual Hours 'Standard Rate). (Actual Rate' Actual Hours) - (Standard Rate' Actual Hours). (Actual Hours 'Standard Rate) - (Standard Hours 'Standard Rate). (Standard Hours' Actual Rate) - (Actual
The formula SP * (SQ - AQ) is the: Multiple Choice 0 direct materials quantity variance. 0 direct materials volume variance. 0 direct materials price variance. 0 direct materials spending variance. The difference between the actual labor rate and the standard labor rate, multiplied by the actual labor hours, is the Multiple Choice o direct labor volume variance. o direct labor spending variance. o direct labor efficiency variance. o direct labor rate variance.
_ 16. The total manufacturing cost variance is a. the difference between actual costs and standard costs for units produced b. the flexible budget variance plus the time variance c. the difference between planned costs and standard costs for units produced d. None of these choices
Difference between budgeted amounts and actual results is
classified as
Difference between budgeted amounts and actual results is classified as Pick a choice: budgeting deviation budgeting variances budgeting gap budgeting differences budgeting discrepancies
Explanation not necessary When is the direct labor time variance favorable? A. when the actual quantity used is less than the standard quantity B. when the actual quantity used is greater than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price is less than the standard price A flexible budget A. gives actual figures for selling price B. gives actual figures for variable and fixed overhead C. is not...
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