ACCT 2101 CH 9 QUESTIONS AND ANSWERS 100%
CORRECT!!
Which of the following types of standards can be achieved only under perfect
conditions?
A. Easily attainable standard
B. Ideal standard
C. Currently attainable standard
D. Tight but attainable standard
Answers B. ideal standard
To foster continuous improvement, standards should in difficulty over time.
A. remain stable
B. increase
C. decrease
D. idealize
Answers B. increase
Standard cost systems depend on which two types of standards?
A. quantity and price
B. quantity and efficiency
C. rate and price
D. rate and spending
Answers A. quantity and price
The standard costs are summarized on a:
A. static cost card.
,B. flexible budget card.
C. standard cost card.
D. standard static card
Answers C. standard cost card.
A quantity standard is
A. the total dollar amount that a company expects to spend to achieve a given level
of output.
B. a form that shows what the company should spend to make a single unit of
product.
C. the price that should be paid for a specific quantity of input.
D. the amount of input that should be used in each unit of product or service.
Answers D. the amount of input that should be used in each unit of product or
service.
The standard labor rate is
A. the expected hourly cost of labor, excluding employee taxes and benefits.
B. the expected hourly cost of labor, including employee taxes and benefits.
C. the amount of time that workers should take to produce a single unit of product.
D. the amount of time that workers should take to produce a single unit of product
times the expected hourly cost of labor.
Answers B. the expected hourly cost of labor, including employee taxes and
benefits.
A master budget is an example of a
A. static budget.
B. flexible budget.
, C. standard cost card.
D. volume variance.
Answers A. static budget.
Delaware Corp. prepared a master budget that included $21,360 for direct
materials, $33,600 for direct labor, $18,000 for variable overhead, and $46,440 for
fixed overhead. Delaware Corp. planned to sell 4,000 units during the period, but
actually sold 4,300 units. How much would direct materials cost be on a flexible
budget for the period based on actual sales?
A. $19,870
B. $21,360
C. $22,962
D. $91,848
Answers C. $22,962
Delaware Corp. prepared a master budget that included $21,360 for direct
materials, $33,600 for direct labor, $18,000 for variable overhead, and $46,440 for
fixed overhead. Delaware 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. $14,448
B. $31,256
C. $33,600
D. $36,120
Answers D. $36,120
Delaware Corp. prepared a master budget that included $21,360 for direct
materials, $33,600 for direct labor, $18,000 for variable overhead, and $46,440 for
fixed overhead. Delaware Corp. planned to sell 4,000 units during the period, but
CORRECT!!
Which of the following types of standards can be achieved only under perfect
conditions?
A. Easily attainable standard
B. Ideal standard
C. Currently attainable standard
D. Tight but attainable standard
Answers B. ideal standard
To foster continuous improvement, standards should in difficulty over time.
A. remain stable
B. increase
C. decrease
D. idealize
Answers B. increase
Standard cost systems depend on which two types of standards?
A. quantity and price
B. quantity and efficiency
C. rate and price
D. rate and spending
Answers A. quantity and price
The standard costs are summarized on a:
A. static cost card.
,B. flexible budget card.
C. standard cost card.
D. standard static card
Answers C. standard cost card.
A quantity standard is
A. the total dollar amount that a company expects to spend to achieve a given level
of output.
B. a form that shows what the company should spend to make a single unit of
product.
C. the price that should be paid for a specific quantity of input.
D. the amount of input that should be used in each unit of product or service.
Answers D. the amount of input that should be used in each unit of product or
service.
The standard labor rate is
A. the expected hourly cost of labor, excluding employee taxes and benefits.
B. the expected hourly cost of labor, including employee taxes and benefits.
C. the amount of time that workers should take to produce a single unit of product.
D. the amount of time that workers should take to produce a single unit of product
times the expected hourly cost of labor.
Answers B. the expected hourly cost of labor, including employee taxes and
benefits.
A master budget is an example of a
A. static budget.
B. flexible budget.
, C. standard cost card.
D. volume variance.
Answers A. static budget.
Delaware Corp. prepared a master budget that included $21,360 for direct
materials, $33,600 for direct labor, $18,000 for variable overhead, and $46,440 for
fixed overhead. Delaware Corp. planned to sell 4,000 units during the period, but
actually sold 4,300 units. How much would direct materials cost be on a flexible
budget for the period based on actual sales?
A. $19,870
B. $21,360
C. $22,962
D. $91,848
Answers C. $22,962
Delaware Corp. prepared a master budget that included $21,360 for direct
materials, $33,600 for direct labor, $18,000 for variable overhead, and $46,440 for
fixed overhead. Delaware 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. $14,448
B. $31,256
C. $33,600
D. $36,120
Answers D. $36,120
Delaware Corp. prepared a master budget that included $21,360 for direct
materials, $33,600 for direct labor, $18,000 for variable overhead, and $46,440 for
fixed overhead. Delaware Corp. planned to sell 4,000 units during the period, but
