1) When is the labor variance unfavorable? a) When the actual price is greater than the standard price b) When the actual quantity used is greater than the standard quantity c) When the actual price is less than the standard price d) When the actual quantity used is less than the standard quantity.
1) When is the labor variance unfavorable? a) When the actual price is greater than the standard price b) When the actual quantity used is greater than the standard quantity c) When the actual price is less than the standard price d) When the actual quantity used is less than the standard quantity.
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter8: Standard Cost Accounting—materials, Labor, And Factory Overhead
Section: Chapter Questions
Problem 23E: (Appendix) Calculating factory overhead: three variances Using the data given in E8-17, calculate...
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What is the answer for number 1
Transcribed Image Text:8:20
E Accs 115 final exam (1)
1) When is the labor variance unfavorable?
a) When the actual price is greater than
the standard price
b) When the actual quantity used is
greater than the standard quantity
c) When the actual price is less than the
standard price
d) When the actual quantity used is less
than the standard quantity.
2) In the production report equivalent
consists of
a) Beginning WIP plus units completed and
transferred out
b) Beginning WIP only
c) Units completed and transferred out plus
ending WIP
d) Beginning WIP Plus units completed and
transferred out plus ending WIP
3) All factory costs are treated as
while all administration costs are treated as
a) Period, fixed
b) Fixed Period
c) Product, Period
d) Period, Product
II
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