Section B Manufacturing Input Variances The following information is for the next six Questions: Franklin Glass Works production budget for the year ended November 30 was based on 200,000 units. Each unit required two standard hours of labor for completion. Total overhead was budgeted at $900,000 for the year, and the fixed overhead rate was estimated at $3.00 per unit. Both fixed and variable overhead are assigned to the product on the basis of direct labor hours. The actual data for the year ended November 30 is presented as follows. Actual production in units Actual direct labor hours Actual variable overhead Actual fixed overhead Question 65: The standard hours allowed for actual production for the year ended November 30 total: a) 247,500 b) 396,000 c) 400,000 d) 495,000 Question 66: Franklins variable overhead efficiency variance for the year is: a) $33,000 unfavorable. b) $35,520 favorable. c) $66,000 unfavorable. d) $33,000 favorable. Question 67: Franklins variable overhead spending variance for the year is: a) $20,000 unfavorable. b) $19,800 favorable. c) $22,000 unfavorable. d) $20,000 favorable. Question 68: Franklins fixed overhead spending variance for the year is: a) $19,000 favorable. b) $25,000 favorable. c) $5,750 favorable. d) $25,000 unfavorable. Question 69: The fixed overhead applied to Franklins production for the year is: a) $484,200. b) $575,000. c) $594,000. d) $600,000. Question 70: Franklins fixed overhead volume variance for the year is: a) $6,000 unfavorable. b) $19,000 favorable. c) $25,000 favorable. d) $55,000 unfavorable. 198,000 440,000 $352,000 $575,000 (CMA Adapted)
Posted on: Sun, 16 Mar 2014 07:27:32 +0000
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