If there is an unfavorable direct material usage variance due to the substandard quality of the raw material, who will be held responsible? Select one: a. Purchase manager b. Production manager c. Factory floor staff d. Human resources manager

Q: Do not use negative signs with any of your answers. Next to Materials Variances Actual cost: Split…

A: Introduction:- The following formulas used as follows under:- Actual cost     =AQ×AP Split cost…

Q: What distinction must be made when computing the materials price variance vs. the materials quantity…

A: The answer for the theory question on material price and quantity variances is discussed hereunder :…

Q: . Discuss why the details of material, labor and overhead are important factors used in this…

A: A standard cost system is a system that helps a business measure performance and value inventory.

Q: Why is the direct materials usage variance allocated only to WIP Inventory, Finished Goods…

A: Solution:- Introduction:- The following formula used to calculation as follows:- materials usage…

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Q: If raw materials are carried in the raw materials inventory at standard cost, then it is reasonable…

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Q: controllability principle

A: The controllability principle stipulates that the evaluation of a manager should be based only on…

Q: Companies that manufacture a product face an expanded set of accounting issues. In addition to the…

A: Material Price Variances It is the difference  between the standard cost of material quantity that…

Q: What effect, if any, would you expect poor-quality materials to have on direct labor variances?

A: Direct labour variance mainly arises due to the differences in the actual and budgeted rates of wage…

Q: Which one of the following would not explain an adverse direct labor efficiency variance? Group of…

A: Lets understand some basic of direct labor efficiency variance. Direct labor efficiency variance is…

Q: What are the basic objectives in the use of standard costs? What are the two variances between the…

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Q: how the purchasing department manager may achieve a favourable direct material pricing variance…

A: Variance analysis: Variance analysis can be defined as the study of difference between the budgeted…

Q: Which of the following departments is most likely responsible for the price variance in direct…

A: Standard costing means where standard is set for various cost element and actual cost is then…

Q: Which of the following cost includes determining how much to order, cost of invoices, clerical labor…

A: Sunk cost refers to money that has already been spent and which can not be recovered. Sunk costs are…

Q: What type of variances are computed for materials, labour, and  factory overhead

A: material variance = standard cost - actual cost of materials. types 1.Material Price Variance: MPV =…

Q: ich of the following would least likely cause an unfavorable materials quantity(usage) variance? *…

A: Solution: Material quantity (usage) variance is the difference between actual quantity of materials…

Q: In a business, who is responsible for setting standard costs, and who is responsible if there are…

A: A good system of standard costing ensures that the right staff are both rewarded and blamed when…

Q: ompanies that manufacture a product face an expanded set of accounting issues. In addition to the…

A: Answer: Material Price Variances:   It is the difference  between the standard cost of material…

Q: Most companies compute the materials price variance when materials are purchased. Group of choices…

A: SOlution: True. This is because Most companies compute the materials price variance when materials…

Q: Which of the following statements might cause a labor rate variance?   Group of choices: Hiring of…

A: Labor rate variance is a deviation between actual rates paid to labourers and standard rates. In…

Q: a company uses a standard cost system. The ending balance in the Manufacturing Overhead account Is a…

A: The manufacturing overhead may be underapplied or overapplied depending on the actual overheads…

Q: Who is responsible for labor rate variance  an external factor not related to the company…

A: Labor rate variance: It is the difference between the actual and expected cost of labor. Causes of…

Q: A favorable direct materials price variance and an unfavorable direct materials quantity variance…

A: Direct Material Price Variance = Actual Quantity Purchased x (Standard Price - Actual Price) If…

Q: Discuss standard costs and indicate how they can be used by management in planning and control.

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: 1. Compute for the Actual Non-controllable cost. 2. Assume that the top-level management is…

A: These are costs not under the control of a manager. Such costs are to be ignored while making…

Q: Explain how a production quota used to evaluate a supervisor who can adversely affect quality…

A: Production Quota It refers to the goal or target of production by the management.Quotas are set…

Q: 1) Identify the report submitted to middle level management. a. Overhead variance report b. Report…

A:

Q: adverse direct labor efficiency variance

A: Option A is wrong because the poor scheduling of direct labor hours will negatively affect the labor…

Q: Why can undue emphasis on labor efficiency variances lead to excess work in process inventories?

A: Labor efficiency variance is the difference between the standard direct labor hours allowed and…

Q: An unfavorable materials quantity variance would occur if Select one: a. actual pounds of materials…

A: The variance is the difference between the actual data and standard output of the production.

Q: in a job-order costing system, the recovery value of scrap that is significant in economic value,…

A: in a job-order costing system, the recovery value of scrap that is significant in economic value,…

Q: What is the variation in the use of materials at actual price and standard materials at standard…

A: "since you have posted more than one questions and not specified which should be solved so we are…

Q: Multiple Choice debit to Work in Process, debit to Material Price Variance, credit to Raw Materials…

A: Journal entry A journal entry is a record of the business transactions within the accounting books…

Q: Would a production manager be equally responsible for anunfavorable materials price variance and an…

A:

Q: What features of the cost accounting system would be expected to prevent the omission ofrecording…

A: Cost accounting is the branch of Accountancy associated with the cost of materials used in the…

Q: Explain how a production quota used to evaluate a supervisor can adversely affect quality control,…

A: Production Quota: The target or the quota provided by the management of achieving desired…

Q: mpany's quality cost report is to be based on the following data: Test and inspection of incoming…

A: The question is related to Quality Cost. The quality cost is classified into two 1. Cost of…

Q: Which one of the following may account for an adverse labour efficiency variance? O a. Using higher…

A: Labor Efficiency is the productivity of the labor employed and measures whether the labor is able to…

Q: What effect, if any, would you expect purchasing poor-quality materials to have on direct labour…

A: Direct labor variance arises due to the differences in the actual and budgeted rates of wage or…