overhead and $1.30 for fixed of normal capacity of 80,000 machine hours. The sta
ID: 2585999 • Letter: O
Question
overhead and $1.30 for fixed of normal capacity of 80,000 machine hours. The standard cost and the actual cost of The standard factory overhead rate is $7.50 per machine hour ($6.20 for variable factory factory factory overhead for the production of 15,000 units during August were as follows: Actual: overhead) based on 100% Variable factory overhead Fixed factory overhead $360,000 104,000 Standard hours allowed for units produced: 60,000 hours 58. What is the amount of the fixed factory overhead volume variance a. $12,000 unfavorable b. $12,000 favorable C. $14,000 unfavorable d. $26,000 unfavorable 59.As production increses,the faed cost r un a. increases b. decreases c. remains the same d. either increases or decreases, depending on the variable costs 60. Department K had 3,000 units 45% completed in process at the beginning of the period; 17,000 units completed during the period; and 1,200 units 40% completed at the end of the period, what was the number of equivalent units of production for the period for conversion if the first-in, first-out method is used to cost inventories? Assume the completion percentage applies to both direct materials and conversion cost a. 18,350 b. 16,310 c. 15,650 d. 16,130 61. Which of the following products would be manufactured using a job order costing system? a. a cell phone b. a highlighter pen c a graduation invitation d. a recliner 62. The benefits of comparing actual performance of the operations against planned goals include all of the following except a. providing prompt feedback to employees about their performance relative to the goal b. preventing unplanned expenditures c helping to establish spending priorities d. determining how managers are performing against prior years' actual operating resultsExplanation / Answer
Answers:
58) D) $26,000 unfavourable
59) B) decreases
60) D)16,130
61) C) a graduation invitation
62) D) determining how managers are performing against prior years actual operating results
63) D)loss resulting from an infrequent natural disaster
64) B)time tickets
65) D) product costs include sales and administrative expenses
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