10.            Shamokin Manufacturing produces two products, Big and Bigger. Shamokin expects to sell 10,000 units of product Bigger and to have an inventory of 2,000 units of Bigger on hand at the end of the period. Currently, Shamokin has 800 units of Bigger on hand. Bigger requires two labor operations, molding and polishing. Each unit of Bigger requires one hour of molding and two hours of polishing. The direct labor rate for molding is $20 per molding hour and the direct labor rate for polishing is $25 per polishing hour. The expected number of hours of direct labor for Bigger is:

A) 8,800 hours of molding; 17,600 hours of polishing

B) 11,200 hours of molding; 22,400 hours of polishing

C) 17,600 hours of molding; 8,800 hours of polishing

D) 22,400 hours of molding; 11,200 hours of polishing



11.                        Newsom Footwear Corporation’s flexible budget cost formula for raw material is $2.61 per unit of output. The company’s performance report for last month showed a $6,840 unfavorable Flexible Budget variance for raw material. During that month, 17,100 units were produced. Budgeted activity for the month had been 16,700 units. The actual cost per unit for raw materials must have been closest to:

A. $3.01
B. $3.49
C. $3.41
D. $2.61



12.  What is the actual sales revenue?
A. $156,000.
B. $169,000.
C. $180,000.
D. $191,000.

13.            What is the sales revenue in the flexible budget?
A. $139,000.
B. $156,000.
C. $169,000.
D. $180,000.


14.             What is the flexible budget contribution margin?
A. $39,000.
B. $45,000.
C. $52,000.
D. $58,000.


15.            What is the master budget sales revenue?
A. $124,000.
B. $148,000.
C. $156,000.
D. $180,000.


16.            What is the master budget contribution margin?
A. $52,000.
B. $47,500.
C. $45,000.
D. $39,000.


17.            Tommy’s Toys produces two types of toys: trains and dolls. Tommy’s uses stainless steel to manufacture the trains and plastic to manufacture the dolls. Information regarding the usage of steel and plastic for the past year follows:

Product Names Steel Plastic
Direct materials information    
Standard pounds per unit 1 lb. 0.5 lb.
Standard price per pound $1.50 ?
Actual quantity used per unit 1.5 lbs. 0.75 lbs.
Actual price paid for material $1.25 $2.00
Actual quantity purchased and used 2,500 lbs. 1,200 lbs.
Price variance ? $900 F
Quantity variance $206 U ?
Flexible budgent variance ? $522 F
Number of units produced 275 550


What is the direct materials flexible budget variance for steel used to manufacture the trains?

A) $419 unfavorable

B) $419 favorable

C) $831 unfavorable

D) $831 favorable


18.            The standard cost card for a product shows that the product should use 4 kilograms of material B per finished unit and that the standard price of material B is $4.50 per kilogram. During April, when the budgeted production level was 1,000 units, 1,040 units were actually made. A total of 4,100 kilograms of material B were used in production and the inventories of material B were reduced by 300 kilograms during April. The total cost of material B purchased during April was $14,400. The material variances for material B during April were:

A. Option A
B. Option B
C. Option C
D. Option D


19.            The Porter Company has a standard cost system. In July the company purchased and used 22,500 pounds of direct material at an actual cost of $53,000; the materials quantity variance was $1,875 Unfavorable; and the standard quantity of materials allowed for July production was 21,750 pounds. The materials price variance for July was:
A. $2,725 F
B. $2,725 U
C. $3,250 F
D. $3,250 U


20.             Cox Company uses standard costing. The following data are available for April:

The standard quantity of material allowed for April production is:
A. 14,200 gallons
B. 12,700 gallons
C. 11,700 gallons
D. 10,200 gallons



21.            The Reedy Company uses a standard costing system. The following data are available for November:

The actual direct labor rate for November is:
A. $8.80
B. $8.90
C. $9.00
D. $9.20








Answer the following questions using the information below:


Russo Corporation manufactured 16,000 air conditioners during November. The overhead cost-allocation base is $31.50 per machine-hour. The following variable overhead data pertain to November:


Actual    Budgeted

Production                                   16,000 units 18,000 units

Machine-hours                             7,875 hours 9,000 hours

Variable overhead cost per machine-hour: $31.00   $31.50



22.            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




23.            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

24.            Dosier Corporation has a standard cost system in which it applies manufacturing overhead to products on the basis of standard machine-hours (MHs). The company has provided the following data for the most recent month:

What was the fixed manufacturing overhead spending variance for the month?
A. $2,000 unfavorable
B. $2,000 favorable
C. $610 unfavorable
D. $610 favorable




25.            Crown Industries has the following information about its standards and production activity for December:

Actual manufacturing overhead cost incurred, $92,500

Variable manufacturing overhead cost @ $3.25 per unit produced

Fixed manufacturing overhead cost @ $1.50 per unit produced

($22,500/15,000 budgeted units)

Actual units produced, 5,400


Assume the allocation base for fixed overhead costs is the number of units to be produced.


How much are the total applied  overhead for the month?

A) $48,750

B) $92,500

C) $71,250

D) $25,650




Franklin Glass Works uses a standard cost system in which manufacturing overhead is applied on the basis of standard direct labor-hours. Each unit requires two standard hours of direct labor for completion. The denominator activity for the year was based on budgeted production of 200,000 units. Total overhead was budgeted at $900,000 for the year, and the fixed manufacturing overhead rate was $1.50 per direct labor-hour. The actual data pertaining to the manufacturing overhead for the year are presented below:


26.            The standard hours allowed for actual production for the year total:
A. 247,500
B. 396,000
C. 400,000
D. 495,000



27.            Franklin’s variable overhead efficiency variance for the year is:
A. $33,000 unfavorable
B. $35,200 favorable
C. $35,200 unfavorable
D. $33,000 favorable




28.            Franklin’s variable overhead rate variance for the year is:
A. $20,000 unfavorable
B. $22,000 favorable
C. $22,000 unfavorable
D. $20,000 favorable





29.            The fixed manufacturing overhead applied to Franklin’s production for the year is:
A. $484,200
B. $575,000
C. $594,000
D. $600,000




30.            Franklin’s Production volume variance for the year is:
A. $6,000 unfavorable
B. $19,000 favorable
C. $25,000 favorable
D. $55,000 unfavorable



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