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31 what is the flexible budget amount a 248 033 b 252 000 c 248 000 d 279 000 32 wha 4300989

 

31) What is the flexible-budget amount?

A) $248,033

B) $252,000

C) $248,000

D) $279,000

32) What is the variable overhead spending variance?

A) $4,500 unfavorable

B) $3,937.50 unfavorable

C) $4,500 favorable

D) $3,937.50 favorable

 

33) What is the variable overhead efficiency variance?

A) $3,937.50 favorable

B) $3,937.50 unfavorable

C) $4,500 favorable

D) $4,500 unfavorable

 

34) What is the total variable overhead variance

A) $7,875 unfavorable

B) $3,937.50 f unfavorable

C) $7,875 favorable

D) $3,937.50 f favorable

 

35) The variable overhead efficiency variance is computed ________ and interpreted ________ the direct-cost efficiency variance.

A) the same as; the same as

B) the same as; differently than

C) differently than; the same as

D) differently than; differently than

36) Mendel Company makes the following journal entry:

Variable Manufacturing Overhead Allocated200,000

Variable Manufacturing Overhead Efficiency Variance5,000

Variable Manufacturing Overhead Control175,000

Variable Manufacturing Overhead Spending Variance30,000

 

Which of the following statements is true of the given journal entry?

A) A variable manufacturing overhead cost of $175,000 is written-off.

B) An unfavorable spending variance of $30,000 is recorded.

C) A favorable efficiency variance of $5,000 is recorded.

D) A favorable flexible-budget variance of $25,000 is recorded.

 

37) An unfavorable variable overhead efficiency variance indicates that ________.

A) the actual rate of variable overhead was more than budgeted rate

B) the price of variable overhead items was less than budgeted

C) the variable overhead cost-allocation base was not used efficiently

D) the variable overhead cost-allocation base was used efficiently

 

38) Osium Company made the following journal entry:

 

Variable Manufacturing Overhead Allocated200,000

Variable Manufacturing Overhead Efficiency Variance60,000

Variable Manufacturing Overhead Control250,000

Variable Manufacturing Overhead Spending Variance10,000

 

Which of the following statements is true of the given journal entry?

A) Osium overallocated variable manufacturing overhead.

B) A $10,000 unfavorable spending variance was recorded.

C) Work-in-Process is currently overstated.

D) A $60,000 unfavorable efficiency variance was recorded.

39) Which of the following is the correct mathematical expression is used to calculate variable overhead efficiency variance?

A) (Actual rate − Budgeted rate) × Budgeted quantity

B) (Actual quantity × Budgeted rate) – (Budgeted input quantity allowed for actual output × Budgeted rate)

C) (Actual quantity ÷ Budgeted rate) − (Budgeted quantity ÷ Budgeted rate)

D) (Actual quantity ÷ Budgeted rate) × Budgeted quantity allowed for actual output

 

40) Marshall Company uses a standard cost system. In April, $266,000 of variable manufacturing overhead costs were incurred and the flexible-budget amount for the month was $300,000. Which of the following variable manufacturing overhead entries would have been recorded for March?

A) Accounts Payable Control and other accounts300,000

Work-in-Process Control300,000

B) Variable Manufacturing Overhead Allocated300,000

Accounts Payable and other accounts300,000

C) Work-in-Process Control266,000

Accounts Payable Control and other accounts266,000

D) Variable Manufacturing Overhead Control266,000

Accounts Payable Control and other accounts266,000

 

 

 

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