general business data bank general business data bank

| August 14, 2017

121
Ventura uses a just-in-time (JIT) manufacturing system for all
of its materials, components, and products. The master budget of the company
for June called for use of 11,000 square feet of materials, while the flexible
budget for the actual output of the month had 10,000 square feet of materials
at a standard cost of $9.60 per square foot. Company records show that the
actual price paid for the materials used in June was $9.50 per square foot, and
that the direct materials purchase-price variance for the month was $1,040.

The materials usage
(quantity) variance for June was:

A.
$3,800 unfavorable.
B.
$3,840 unfavorable.
C.
$5,700 unfavorable.
D.
$5,760 unfavorable.
E.
$8,560 favorable.

122.
Pokeman Bunch Inc., manufactures PokeMonster figures and has the following data
from its operation for the year just completed.
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The column
heading identified as A is:

A.
Selling price variance.
B.
Efficiency variance.
C.
Flexible-budget (FB)
variances.
D.
Sales-volume variance.
E.
Production-volume
variance.

123.
Pokeman Bunch Inc., manufactures PokeMonster figures and has the following data
from its operation for the year just completed.
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The column
heading identified as B is:

A.
Selling price variance.
B.
Efficiency variance.
C.
Flexible-budget (FB)
variances.
D.
Sales-volume variance.
E.
Production-volume
variance.

124.
Pokeman Bunch Inc., manufactures PokeMonster figures and has the following data
from its operation for the year just completed.
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The amount C
is:

A.
$72,000.
B.
$74,400.
C.
$75,000.
D.
$90,000.
E.
$111,000.

125.
Pokeman Bunch Inc., manufactures PokeMonster figures and has the following data
from its operation for the year just completed.
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The amount D
is:

A.
$12,000.
B.
$15,000.
C.
$16,500.
D.
$18,000.
E.
$33,000.

126.
Pokeman Bunch Inc., manufactures PokeMonster figures and has the following data
from its operation for the year just completed.
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The amount E
is:

A.
$61,500.
B.
$76,500.
C.
$79,500.
D.
$88,500.
E.
$91,500.

127.
Pokeman Bunch Inc., manufactures PokeMonster figures and has the following data
from its operation for the year just completed.
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The amount F
is:

A.
$4,500.
B.
$6,000.
C.
$7,500.
D.
$9,000.
E.
$10,000.

128.

Pokeman
Bunch Inc., manufactures PokeMonster figures and has the following data from
its operation for the year just completed.

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The total
operating-income variance is:

A.
$500 favorable.
B.
$1,500 unfavorable.
C.
$1,500 favorable.
D.
$2,500 unfavorable.
E.
$3,000 favorable.

129.
Pokeman Bunch Inc., manufactures PokeMonster figures and has the following data
from its operation for the year just completed.
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The sales-volume
variance in terms of operating income is:

A.
$500 favorable.
B.
$1,500 unfavorable.
C.
$1,500 favorable.
D.
$2,500 unfavorable.
E.
$3,000 favorable.

130. Precilla
Company uses a standard costing system that allows 2 pounds of direct materials
for one finished unit. During July, the company purchased 40,000 pounds of
direct materials for $210,000 and manufactured 12,000 finished units. The
standard direct materials cost allowed for the units manufactured is $120,000.
The performance report shows that Pricilla has an unfavorable direct materials
usage variance of $5,000. Also, the company records any price variance for
materials at time of purchase.

Precilla’s standard
price per pound of direct materials is:

A.
$4.00.
B.
$5.00.
C.
$6.00.
D.
$10.00.
E.
$12.00.

131. Precilla
Company uses a standard costing system that allows 2 pounds of direct materials
for one finished unit. During July, the company purchased 40,000 pounds of
direct materials for $210,000 and manufactured 12,000 finished units. The
standard direct materials cost allowed for the units manufactured is $120,000.
The performance report shows that Pricilla has an unfavorable direct materials
usage variance of $5,000. Also, the company records any price variance for
materials at time of purchase.

The number of pounds of
direct materials used to produce July’s output was:

A.
12,000 pounds.
B.
20,000 pounds.
C.
24,000 pounds.
D.
25,000 pounds.
E.
40,000 pounds.

132. Precilla
Company uses a standard costing system that allows 2 pounds of direct materials
for one finished unit. During July, the company purchased 40,000 pounds of
direct materials for $210,000 and manufactured 12,000 finished units. The
standard direct materials cost allowed for the units manufactured is $120,000.
The performance report shows that Pricilla has an unfavorable direct materials
usage variance of $5,000. Also, the company records any price variance for
materials at time of purchase.
The direct materials
purchase-price variance in July is:

A.
$10,000 unfavorable.
B.
$50,000 unfavorable.
C.
$80,000 unfavorable.
D.
$86,000 unfavorable.
E.
$90,000 unfavorable.

133. Ally
Mfg. uses a standard cost system and its July production of 1,800 units
involved actual direct labor costs of $242,000 for 5,500 hours worked. The
budget for July called for production of 2,000 units with 6,000 direct labor
hours at $40.00 per hour.

Ally’s direct labor rate
variance for July is:

A.
$2,000 unfavorable.
B.
$4,000 unfavorable.
C.
$20,000 favorable.
D.
$22,000 unfavorable.
E.
$26,000 unfavorable.

134.
Ally Mfg. uses a standard cost system and its July production of 1,800 units
involved actual direct labor costs of $242,000 for 5,500

hours worked. The budget for July called
for production of 2,000 units with 6,000 direct labor hours at $40.00 per hour.
Ally’s direct labor efficiency variance for July is:

A.
$2,000 unfavorable.
B.
$4,000 unfavorable.
C.
$20,000 favorable.
D.
$22,000 unfavorable.
E.
$26,000 unfavorable.

135.
Roncy Manufacturing uses
enhanced powder plastics (EPP) to manufacture high-pressure boards,
Dura-Plastic. Information concerning its operation in June was as follows:
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The standard
cost per ounce of EPP is:

A.
$6.22.
B.
$6.30.
C.
$6.65.
D.
$6.84.
E.
Greater than $7.00.

136.
Roncy Manufacturing uses
enhanced powder plastics (EPP) to manufacture high-pressure boards,
Dura-Plastic. Information concerning its operation in June was as follows:
.jpg”>

The direct
materials usage (efficiency) variance for June was:

A.
$13,300 unfavorable.
B.
$26,600 unfavorable.
C.
$29,925 unfavorable.
D.
$34,020 unfavorable.

137.
Roncy Manufacturing uses
enhanced powder plastics (EPP) to manufacture high-pressure boards,
Dura-Plastic. Information concerning its operation in June was as follows:
.jpg”>

The direct
materials purchase-price variance is for June was:

A.
$63,700 unfavorable.
B.
$65,520 unfavorable.
C.
$69,160 unfavorable.
D.
$95,760 unfavorable.

138.
Luanna Inc. manufactures
game consoles. Some of the company’s data was misplaced. Use the following
information to replace the lost data.
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The amount A
is:

A.
$102,080.
B.
$103,440.

C.
$105,600.
D.
$108,000.

139.
Luanna Inc. manufactures
game consoles. Some of the company’s data was misplaced. Use the following
information to replace the lost data.
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The amount B
is:

A.
$100,300.
B.
$102,000.
C.
$103,440.
D.
$105,600.

140.
Luanna Inc. manufactures
game consoles. Some of the company’s data was misplaced. Use the following
information to replace the lost data.
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The amount C
is:

A.
$38,790.
B.
$59,490.
C.
$65,050.
D.
$83,140.

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