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Multiple Choice Quiz
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1
A cost accounting system in which the usage of resources at expected per-unit prices and levels of usage are recorded is called which of the following?
A)A normal costing system
B)A standard cost system
C)An ABC system
D)A hybrid cost system
2
Consider the following budgeted amounts:

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What is the standard cost of direct materials?
A)$45,000
B)$4.50 per unit
C)$14.50 per unit
D)$0.45 per unit
3
Broadway Furniture Manufacturing produces oak desks. It has established standards for one oak desk at the following:

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Broadway produced 1,500 desks at a total materials price of $250,700 for 54,500 square feet of oak lumber. Calculate the materials price variance.
A)$5,450 unfavorable
B)$5,400 unfavorable
C)$5,450 favorable
D)$5,400 favorable
4
Broadway Furniture Manufacturing produces oak desks. It has established standards for one oak desk at the following:

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Broadway produced 1,400 desks at a total materials price of $227,500 for 50,000 square feet of oak lumber. Calculate the materials quantity variance.
A)$400 favorable
B)$2,600 favorable
C)$2,500 favorable
D)$1,800 favorable
5
Broadway Furniture Manufacturing produces oak desks. It has established standards for one oak desk at the following:

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Broadway produced 1,800 desks at a total labor cost of $271,250 for 17,500 hours of direct labor. Calculate the labor rate variance.
A)$7,000 unfavorable
B)$8,500 unfavorable
C)$7,000 favorable
D)$8,750 unfavorable
6
Broadway Furniture Manufacturing produces oak desks. It has established standards for one oak desk at the following:

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Broadway produced 1,800 desks at a total labor cost of $271,250 for 17,500 hours of direct labor. Calculate the labor efficiency variance.
A)$7,500 unfavorable
B)$7,500 favorable
C)$7,750 favorable
D)$1,250 unfavorable
7
Broadway Furniture Manufacturing produces oak desks. It has established standards for one oak desk at the following:

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Broadway produced 1,600 desks and had an unfavorable labor rate variance of $4,950 for 16,500 hours of labor. Calculate the actual labor rate.
A)$15.00
B)$15.30
C)$14.70
D)$13.30
8
You pay a monthly rent of $5,000 for a 5,000-gallon tank in which you manufacture a synthetic fuel that you invented. The standard variable overhead cost to mix the fuel is $.30 per gallon. At the end of the month you have produced 4,000 gallons of fuel at a total overhead cost of $6,240. What is the overhead spending variance?
A)$40 unfavorable
B)$240 unfavorable
C)$208 unfavorable
D)$204 favorable
9
The normal capacity of the facility is 12,000 units. At normal capacity, the manufacturing overhead rate is $14 per unit ($10 variable overhead plus $4 fixed overhead). During March, 13,000 units were produced. Calculate the volume variance for March.
A)$4,000 unfavorable
B)$4,000 favorable
C)$14,000 favorable
D)$14,000 unfavorable
10
The spending variance is $500 favorable. The volume variance is $1,650 unfavorable. Budgeted overhead for normal capacity of 1,000 units is $16,500. What was the level of output applied to Work in Process, in units?
A)900 units
B)1,100 units
C)1,000 units
D)800 units





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