Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

problem 1) XYZ Company utilizes 40,000 gallons of materials for which it paid $9.00 a gallon. The materials price variance was $80,000 favorable. What is find out the standard price per gallon?

a) $2.00
b) $7.00
c) $10.00
d) $11.00
e) None of the above

problem 2) Sunshine Company produced 96,000 units in 45,000 direct labor hours. Production for period was budgeted at 99,000 units and 45,500 direct labor hours. Flexible budget would compare budget and actual, respectively at:

a) 48,000 hours and 49,500 hours.
b) 49,500 hours and 45,000 hours.
c) 48,000 hours and 45,000 hours.
d) 45,000 hours and 45,000 hours.

problem 3) The unfavorable materials quantity variance would take place if

a) actual labor hours used were greater than standard labor hours allowed.
b) actual pounds of materials used were less than standard pounds allowed.
c) more materials are purchased than are used.
d) actual pounds of materials used were greater than the standard pounds allowed.

problem 4) The unfavorable materials quantity variance would take place if:

a) more materials are purchased than are used.
b) actual pounds of materials used were less than standard pounds allowed.
c) actual labor hours used were greater than the standard labor hours allowed.
d) actual pounds of materials used were greater than the standard pounds allowed.

problem 5) Make-In-It Corp. has the unfavorable labor quantity variance. Which statement is false?

a) Unfavorable labor quantity variance is usually not related to material price variance, but it could be if a company purchases poor quality material.
b) Unfavorable labor quantity variance could be caused by using inexperienced workers.
c) Unfavorable variance means someone, somewhere, is performing poorly.
d) An unfavorable labor quantity variance means more time was required than the standard allows.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M99494

Have any Question? 


Related Questions in Accounting Basics

Rayburn industries is evaluating the investment of 144900

Rayburn Industries is evaluating the investment of $144,900 in a new packing machine that should provide annual cash operating inflows of $31,060 for 6 years. At the end of 6 years, the packing machine will be sold for $ ...

Problemyou have decided to start a business selling widgets

Problem: You have decided to start a business selling widgets. You form a corporation, Widgets, Inc. You paid $10 per share for 1,000 shares of stock on January 1, 2016. Next the company borrowed $30,000 from your Aunt S ...

Pinciples of accounting5-6 pages body of paper only

Pinciples of Accounting 5-6 pages (Body of Paper only) Excluding title page and work cite You will select a company from this list, and you will analyze the company's financial performance, highlighting accounting princi ...

Locate and read the article listed below and answer the

Locate and read the article listed below and answer the following questions. Brandon, D. M. November 2010. External Auditor Evaluations of Outsourced Internal Auditors. Auditing: A Journal of Practice & Theory 29 (2): 15 ...

Horizontal and vertical analysisfor this assignment due in

Horizontal and Vertical analysis For this assignment, due in Module Four, you will submit both a horizontal and vertical analysis of Starbucks' accounts receivable, fixed assets, and debt financing. Use basic financial a ...

In recent years a number of companies have gone into

In recent years a number of companies have gone into liquidation (been ‘wound up') because they have not been able to meet their liabilities when they fell due. In Australia, there are some well-publicised examples such ...

Assignment ifrs and us gaap reportingon january 1 year 1

Assignment: IFRS and U.S. GAAP Reporting On January 1, Year 1, the Hoverman Corporation made amendments to its defined benefit pension plan, resulting in $150,000 of past service costs. The plan has 100 active employees ...

Practice questionsthink of a business that you would like

Practice questions: Think of a business that you would like to start. Draw up a list of all the expenses the business would incur and indicate the source of the information you would need to calculate the figures for the ...

Individual case study assignmentcash flow forecasts and

Individual Case Study Assignment Cash flow forecasts and projected financial statements For the following Individual Case Study, you assume the role of someone who has been asked to provide a Business Report for a group ...

What evidence would help you evaluate whether or not a

What evidence would help you evaluate whether or not a company does adequate cash planning? Is there any information not available in the company's annual report that would help you make this evaluation?

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate