acc- 10 questions

QUESTION 1XYZ Co. has a material standard of 2 pounds per unit of output. Each pound has a standard price of $12 per pound. During February, XYZ Co. paid $57,220 for 4,840 pounds, which were used to produce 2,400 units. What is the direct materials price variance?$1,420 favorable$860 favorable$1,420 unfavorable$860 unfavorable10 points .png”);”=”” background-position:=”” 6px=”” 50%;=”” background-repeat:=”” no-repeat;”=””>QUESTION 2XYZ Corp prepared a master budget that included $17,800 for direct materials, $28,000 for direct labor, $15,000 for variable overhead, and $38,700 for fixed overhead. Wadjase Corp planned to sell 4,000 units during the period, but actually sold 4,300 units.How much would direct labor cost be on a flexible budget for the period based on actual sales? A.$28,000B.$30,100C.$12,040D.$26,04710 points QUESTION 3A spending variance is made up of price variance and rate variance.volume variance and quantity variance.price variance and quantity variance.price variance and volume variance.10 points QUESTION 4W Co. has a material standard of 2 pounds per unit of output. Each pound has a standard price of $12 per pound. During February, W Co. paid $57,220 for 4,840 pounds, which were used to produce 2,400 units. What is the direct materials quantity variance?$9,120 favorable$1,420 unfavorable$9,980 favorable$480 favorable10 points QUESTION 5A master budget is an example of aA.volume B.C.standard D.flexible 10 points QUESTION 6 Albertville has a direct labor standard of 2 hours per unit of output. Each employee has a standard wage rate of $22.50 per hour. During July, Albertville paid $189,500 to employees for 8,890 hours worked. 4,700 units were produced during July. What is the direct labor rate variance? $11,475 favorable$10,525 favorable$22,000 favorable$10,525 unfavorable10 points QUESTION 7Standard cost systems depend on which two types of standards?A.ndB.ndC.ndD.Rate 10 points QUESTION 8The difference between the actual fixed manufacturing overhead cost and the budgeted fixed manufacturing overhead cost is thefixed overhead spending variance.fixed overhead volume variance.fixed overhead rate variance.fixed overhead efficiency variance.10 points QUESTION 9Evaluate the following question and give a hypothetical example that will back up your answer.When evaluating variances, is it best for managers and others to consider only one variance at a time?State whether this is a good idea or a bad idea and state your reasoning10 points QUESTION 10 Pulam, Inc. prepared the following master budget items for July.Budgeted Production and Sales 30,000 unitsVariable Manufacturing Costs:Direct Materials $45,000Direct Labor $60,000Variable Overhead $75,000Fixed Overhead $100,000Total Manufacturing Costs $280,000During July, Pulam actually sold 24,000 units. Prepare a flexible budget for Pulam based on actual sales.Be sure to show total flexible budgeted costs for direct materials, direct labor, variable overhead, fixed costs and total costs just like the original budget.