1. To separate the semi-variable costs into their fixed and variable components, one can use which of the following methods?

1. To separate the semi-variable costs into their fixed and variable components, one can use which of the following methods?

1. To separate the semi-variable costs into their fixed and variable components, one can use which of the following methods?a) labor variance methodb) material variance methodc) relevant range of activity methodd) high-low point method2. A budget prepared using several differing levels of activity is a:a) fixed budgetb) flexible budgetc) manufacturing cost budgetd) budget performance report3. Direct factory labor is usually considered to be a cost.a) variableb) fixedc) semi-variabled) mixed4. The cost of utilities consumed in the factory is a good example of acost.a) variableb) fixedc) semi-variabled) standard5. The salary of the factory supervisor is a good example of a cost.a)variableb)fixedc)semi-variabled)standard6. As the level of activity increases, the fixed cost per unit of activity:a) increasesb) decreasesc) does not changed) may increase or decrease7. As the level of activity increases, the variable cost per unit of activity:a) increasesb) decreasesc) does not changed) may increase or decrease8. As the level of activity increases, the total variable costs for the period:a)increaseb)decreasec)do not changed)may increase or decrease9. As the level of activity increases, the total fixed costs for the period:a) increasesb) decreasec) may increase or decreased) do not change10. Costs that reflect what costs should be for the units of product manufactured during the period under normal efficient operating conditions are known as costs.a)variableb)fixedc)standardd)semi-variable11. In a factory, the fixed costs per unit are $45 when 400 units are produced. If 450 units are produced, the fixed costs per unit would be:a)$45b)$40 c)$10d)$50.6312. In a factory,the total variable costs are $600 if 500 units are produced. If 400 units are produced, the total variable costs would be:a)$480 b)$600c)$120d)$33313. The standard quantity of materials for a product was 40 pounds per unit at the standard price of $2.00 per pound. The actual price per pound of materials was $1.50, and the actual quantity used was 44 pounds. An analysis would indicate a:a)$20.00 favorable price varianceb)$22.00 favorable price variance c)$6.00 unfavorable quantity varianced)$18.00 favorable price variance14. The labor standard for a product was five hours at a wage rate of $8 per hour.The firm produced 900 units of the item.Labor Costs totaled $35,250 and 4,700 hours of labor were used. An analysis of labor costs would indicate:a)a $750 favorable labor rate varianceb)a $1,600 unfavorable labor time variance c)both the labor rate variance and the labor time variance listed aboved)a $1,600 favorable labor rate variance15. The quantity variance for an item is the difference between its actual quantity and its standard quantity multiplied be the:a)standard cost of the itemb)actual cost of the itemc)price varianced)budgeted amount for the item16. An unfavorable price variance for materials means that:a)the actual cost of the materials was more than the budgeted amountb)more materials were used in production than anticipatedc)more labor hours were required to work with the materials than expectedd)the actual cost of the materials was more than the standard cost17. The materials price variance for an item is the difference between its actual price and its standard cost:a)multiplied by the actual quantity usedb)multiplied by the standard quantity allowedc)multiplied by the difference between the actual quantity and the standard quantityd)divided by the actual quantity18. The flexible budget usually shows:a)only fixed costsb)only variable costsc)fixed and variable costs togetherd)fixed and variable costs separatelyUse the following information to answer questions 19 and 20.The standard costs for a unit of product are shown below.Materials 2 pounds at $1.00 per pound $2.00Labor 1 hour at $10.00 per hour 10.00Overhead 60% of direct labor 6.00 During June, Job N-5 for 100 units was completed. The actual costs of the job are shown below.Materials 300 pounds at $1.45 per pound $435Labor 200 hours at $9.50 per hour 1,900Overhead Applied 60% of direct labor 1,14019. Which of the following represents the material price variance?a)$325 unfavorableb)$235 unfavorablec)$100 unfavorabled)$135 unfavorable 20. Which of the following represents the material quantity variance?a)$325 unfavorableb)$235 unfavorablec)$100 unfavorable d)$135


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