MA Test Questions With Accurate Answers.
standards are Blank______. - accurate answers-compared to the actual
quantities and costs of inputs
set for each major production input or task
benchmarks for measuring performance
Material requirements plus an allowance for normal inefficiencies are added
together to determine the ____ ____ per unit of output for direct materials. -
accurate answers-Blank 1: standard
Blank 2: quantity
The amount of direct-labor hours that should be used to produce one unit of
finished goods is the ____ hours per unit - accurate answers-standard
planning budget called for 500 units to be produced and total direct labor cost
of $7,500. Actual production was 600 units and actual direct labor cost was
$9,300. The spending variance is Blank______. - accurate answers-$300 U
Which of the following statements are true? - accurate answers-Standards
provide information for measuring performance.
When actual results depart significantly from the standard, the reasons why
should be investigated.
A price variance is the difference between the Blank______. - accurate answers-
actual price and the standard price multiplied by the actual amount of the
input
Which of the following are used to calculate the standard quantity per unit of
direct materials? - accurate answers-Direct materials requirements per unit of
finished product.
Allowance for normal scrap and spoilage.
The standard hours per unit includes both direct and indirect labor hours. -
accurate answers-False
,he materials price variance is the difference between the actual price of
materials Blank______. - accurate answers-and the standard price for materials
with the difference multiplied by the actual quantity of materials
Given the following, compute the standard cost per widget
Direct materials per unit-
4 pounds
Direct material cost-
$1.25 per pound
Direct labor per unit-
1.5 hours
Direct labor rate-
$10.00 per hour
Variable overhead rate-
$4.00 per hour - accurate answers-$26.00
When the actual cost incurred exceeds the standard cost allowed for the
actual level of output, the spending variance is Blank______. - accurate answers-
unfavorable
The difference between the actual amount of materials used in production and
the standard amount of materials allowed for the actual output, multiplied by
the standard price per unit of materials is the materials - accurate answers-
usage variance.
he materials price variance is calculated using the Blank______ quantity of the
input purchased. - accurate answers-actual
The terms price and quantity are used when computing direct ____ variance,
while the terms rate and hours are used when computing direct ____variances.
- accurate answers-Blank 1: material or materials
Blank 2: labor or labour
, Material requirements plus an allowance for normal inefficiencies are added
together to determine the ____ ____ per unit of output for direct materials. -
accurate answers-Blank 1: standard
Blank 2: quantity
The labor rate variance measures the productivity of direct labor. - accurate
answers-False
(Actual cost per unit - standard cost per unit) × actual quantity = the materials
- accurate answers-price variance.
iven the following, the standard cost of this item is $
Direct materials per unit-
2 pounds
Direct material cost-
$2.50 per pound
Direct labor per unit-
.75 hours
Direct labor rate-
$16.00 per hour
Variable overhead rate-
$8.00 per hour - accurate answers-23
The labor efficiency variance is the difference between actual hours used and
standard hours allowed multiplied by the Blank______ hourly rate. - accurate
answers-standard
The material quantity variance reflects the difference between the ____
quantity of materials used in production and the ____ quantity of materials
allowed for the actual output. - accurate answers-Blank 1: actual
Blank 2: standard
standards are Blank______. - accurate answers-compared to the actual
quantities and costs of inputs
set for each major production input or task
benchmarks for measuring performance
Material requirements plus an allowance for normal inefficiencies are added
together to determine the ____ ____ per unit of output for direct materials. -
accurate answers-Blank 1: standard
Blank 2: quantity
The amount of direct-labor hours that should be used to produce one unit of
finished goods is the ____ hours per unit - accurate answers-standard
planning budget called for 500 units to be produced and total direct labor cost
of $7,500. Actual production was 600 units and actual direct labor cost was
$9,300. The spending variance is Blank______. - accurate answers-$300 U
Which of the following statements are true? - accurate answers-Standards
provide information for measuring performance.
When actual results depart significantly from the standard, the reasons why
should be investigated.
A price variance is the difference between the Blank______. - accurate answers-
actual price and the standard price multiplied by the actual amount of the
input
Which of the following are used to calculate the standard quantity per unit of
direct materials? - accurate answers-Direct materials requirements per unit of
finished product.
Allowance for normal scrap and spoilage.
The standard hours per unit includes both direct and indirect labor hours. -
accurate answers-False
,he materials price variance is the difference between the actual price of
materials Blank______. - accurate answers-and the standard price for materials
with the difference multiplied by the actual quantity of materials
Given the following, compute the standard cost per widget
Direct materials per unit-
4 pounds
Direct material cost-
$1.25 per pound
Direct labor per unit-
1.5 hours
Direct labor rate-
$10.00 per hour
Variable overhead rate-
$4.00 per hour - accurate answers-$26.00
When the actual cost incurred exceeds the standard cost allowed for the
actual level of output, the spending variance is Blank______. - accurate answers-
unfavorable
The difference between the actual amount of materials used in production and
the standard amount of materials allowed for the actual output, multiplied by
the standard price per unit of materials is the materials - accurate answers-
usage variance.
he materials price variance is calculated using the Blank______ quantity of the
input purchased. - accurate answers-actual
The terms price and quantity are used when computing direct ____ variance,
while the terms rate and hours are used when computing direct ____variances.
- accurate answers-Blank 1: material or materials
Blank 2: labor or labour
, Material requirements plus an allowance for normal inefficiencies are added
together to determine the ____ ____ per unit of output for direct materials. -
accurate answers-Blank 1: standard
Blank 2: quantity
The labor rate variance measures the productivity of direct labor. - accurate
answers-False
(Actual cost per unit - standard cost per unit) × actual quantity = the materials
- accurate answers-price variance.
iven the following, the standard cost of this item is $
Direct materials per unit-
2 pounds
Direct material cost-
$2.50 per pound
Direct labor per unit-
.75 hours
Direct labor rate-
$16.00 per hour
Variable overhead rate-
$8.00 per hour - accurate answers-23
The labor efficiency variance is the difference between actual hours used and
standard hours allowed multiplied by the Blank______ hourly rate. - accurate
answers-standard
The material quantity variance reflects the difference between the ____
quantity of materials used in production and the ____ quantity of materials
allowed for the actual output. - accurate answers-Blank 1: actual
Blank 2: standard
