Poorly trained workers could have an unfavorable effect on which of the following variances? Materials Labor Rate Quantity Variance Variance A) B) C) D) Yes Yes Yes No No Yes No No Multiple Choice Choice A Choice D Choice B 身

Poorly trained workers could have an unfavorable effect on which of the following variances? Materials Labor Rate Quantity Variance Variance A) B) C) D) Yes Yes Yes No No Yes No No Multiple Choice Choice A Choice D Choice B 身

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Description: Poorly trained workers could have an unfavorable effect on which of the following variances?MaterialsLabor RateQuantityVarianceVarianceA)В)YesYesYesNoNoYesD)NoNoMultiple ChoiceChoice AChoice DChoice B

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 4MC: This variance is the difference involving spending more or using more than the standard amount. A....

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This variance is the difference involving spending less, or using less than the standard amount. A. favorable variance B. unfavorable variance C. no variance D. variance
What makes a variance favorable? Give an example of a favorable variance involving materials. What makes a variance unfavorable? Give an example of an unfavorable variance involving labor.
Acme Inc. has the following information available: A. Compute the material price and quantity, and the labor rate and efficiency variances. B. Describe the possible causes for this combination of favorable and unfavorable variances.
Investigating variances from standard is a. always done. b. done if the variance is inside an acceptable range. c. not done if the variance is expected to recur. d. done if the variance is outside the control limits. e. None of these.
What is the cause of an unfavorable volume variance? Does the volume variance convey any meaningful information to managers?
Which of the following is a possible cause of an unfavorable material price variance? A. purchasing too much material B. purchasing higher-quality material C. hiring substandard workers D. buying substandard material
When is the material price variance unfavorable? A. when the actual quantity used is greater than the standard quantity B. when the actual quantity used is less than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price is less than the standard price
Identify several causes of an unfavorable labor efficiency variance.
What causes an unfavorable variance?
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What are some possible reasons for a material price variance? A. substandard material B. labor rate increases C. labor rate decreases D. labor efficiency
(Appendix 10A) Which of the following items describes practices surrounding the recording of variances? a. All inventories are typically carried at standard. b. Unfavorable variances appear as debits. c. Favorable variances appear as credits. d. Immaterial variances are typically closed to Cost of Goods Sold. e. All of these.