69) For Product Y, the total standard material cost for producing the 300 units was

A) $9,000.

B) $9,900.

C) $13,200.

D) $12,000.

70) For Product Y, the total actual cost for producing the 300 units was

A) $9,000.

B) $9,900.

C) $12,000.

D) $13,200.

71) When actual volume is less than expected volume, the fixed overhead volume variance is

A) favourable.

B) overapplied.

C) unfavourable.

D) indeterminable.

72) When actual volume is less than expected volume, fixed overhead is

A) favourable.

B) underapplied.

C) overapplied.

D) indeterminable.

73) The costing system that uses actual direct labour and materials cost but uses standards for applying overhead is called

A) actual costing.

B) standard costing.

C) variance costing.

D) normal costing.

74) Which costing methods generate fixed overhead volume variances?

A) Normal and standard.

B) Standard and actual.

C) Actual and normal.

D) Actual, normal, and standard.

A company had the following information pertaining to two different cases:

Case X

Case Y

Budgeted fixed overhead

$130,000

$230,000

Variable factory overhead per direct-labour hour

$    24

$    14

Standard direct-labour hours

11,000

6,000

Flexible-budget variance

$ 10,000  F

$ 20,000  U

Production-volume variance

$   6,000  U

$   8,000  F

75) Actual factory overhead cost in Case X was

A) $264,000.

B) $384,000.

C) $120,000.

D) $130,000.

76) The applied factory overhead cost in Case X was

A) $400,000.

B) $136,000.

C) $124,000.

D) $388,000.

77) The applied factory overhead cost in Case Y was

A) $322,000.

B) $238,000.

C) $346,000.

D) $222,000.

78) Prorating the variances refers to assigning the variances to

A) cost of goods sold only.

B) inventories and cost of goods sold.

C) inventories only.

D) inventories, cost of goods sold, and sales.

79) The fixed overhead volume variance arises because fixed-overhead accounting must serve two masters: the control-budget purpose and the

A) product-costing purpose.

B) period-costing purpose.

C) stockholders.

D) creditors.

A company had the following information pertaining to two different cases:

Case X

Case Y

Budgeted fixed overhead

$130,000

$230,000

Variable factory overhead per direct-labour hour

$    24

$    14

Standard direct-labour hours

  11,000

   6,000

Flexible-budget variance

    $ 10,000  F

    $ 20,000  U

Production-volume variance

     $  6,000  U

   $  8,000  F

80) The total overhead variance in Case X was

A) $126,000 unfavourable.

B) $16,000 favourable.

C) $4,000 favourable.

D) $134,000 favourable.

81) The total overhead variance in Case Y was

A) $242,000 unfavourable.

B) $12,000 unfavourable.

C) $28,000 unfavourable.

D) $218,000 favourable.



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