Which one of the following may be a reason for a restaurant's unfavorable quantity variance: Multiple Choice An oven that overheats causing some meals to burn when the kitchen gets busy Purchase of higher-priced ingredients Well-rained kitchen staff Paying employees too much to prepare the materials

Which one of the following may be a reason for a restaurant's unfavorable quantity variance: Multiple Choice An oven that overheats causing some meals to burn when the kitchen gets busy Purchase of higher-priced ingredients Well-rained kitchen staff Paying employees too much to prepare the materials

Name: Which one of the following may be a reason for a restaurant's unfavor
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Which one of the following may be a reason for a restaurant's unfavorable quantity variance:Multiple ChoiceAn oven that overheats causing some meals to burn when the kitchen gets busyPurchase of higher-priced ingredientsWell-trained kitchen staffPay

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 22MC: Which of the following is a possible cause of an unfavorable material price variance? A. purchasing...

See similar textbooks

Similar questions

Which of the following is a possible cause of an unfavorable labor efficiency variance? A. hiring substandard workers B. making too many Units C. buying higher-quality material D. paying too much for workers
Ironwood Company manufactures cast-iron barbeque cookware. During a recent windstorm, it lost some of its cost accounting records. Ironwood has managed to reconstruct portions of its standard cost system database but is still missing a few pieces of information. See attached imageRequired:Use the information in the table to determine the unknown amounts. You may assume that Ironwood does not keep any raw materials on hand. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).
Which of the following is a possible cause of an unfavorable labor rate variance? A. hiring too many workers B. hiring higher-quality workers at a higher wage C. making too many units D. purchasing too much material
Which of the following is a possible cause of an unfavorable material quantity variance? A. purchasing substandard material B. hiring higher-quality workers C. paying more than should have for workers D. purchasing too much material
Which of the following is NOT a reason for an unfavorable direct materials quantity variance ? Purchasing of inferior raw materials Malfunctioning equipment Increased cost per unit of direct materials Employees using more material than budgeted
Which of the following could not be the explanation for a FAVOURABLE labour efficiency variance in isolation? A A higher grade of staff was used than originally planned B A new more efficient machine was purchased increasingly the hourly output of units C A decrease in the selling price led to an increase in demand for the product D A training course introduced a new more efficient process that staff could incorporate in production
Miller Company has an unfavourable materials price variance. Which of the following would be the least likely reason for this variance? A.The company did not take advantage of purchase discounts. B. The company underbudgeted the standard price for materials. C. The company purchased a higher quality material than was budgeted. D. The company used more material than was budgeted for in each unit.
Belle Manufacturing has an unfavorable direct labor rate variance. Which of the following would be the most likely reason for this variance? * The company used lower-paid workers than they had expected. Employees took a longer amount of time to produce the product than expected. The company gave employees an unexpected raise due to union negotiations. Employees used more direct materials in the production process than expected.
Explain with correct reasons in each of the following: Impact on variances 1.Production department gets low quality material which was ordered by the purchase department. 2.Person in the department of production not handling materials well 3.It was decided by the company to use new suppliers 4.Sales of the product has dropped from 25 to 20% 5.Due to demand in market, a new competitor has also entered in to the market 6.Production of units was more than budgeted
Brandt Gardner, the owner-manager of a small firm that manufactures feed processing equipment and round-hay bailers, is unhappy with the latest report on financial performance in the Kansas City, Missouri, plant. The company had recently installed a standard cost system in the Kansas City plant with the objective of controlling manufacturing costs. The performance report for the year ended revealed that the variances for materials, labor, and variable overhead were all within the desired ranges, but the fixed overhead spending and volume variances were both significantly unfavorable. Brandt wanted an explanation of the fixed overhead variances and a recommendation. Which do you think is more important for control of fixed overhead costs: the spending variance or the volume variance? Explain.
What internal control or procedure(s) would provide protection against the following threats? A factory supervisor wrote off a robotic assembly machine as being sold for salvage but actually sold the machine and pocketed the proceeds. A factory supervisor accessed the production planning file and inflated the standards for work completed in his department. Consequently, future performance reports show favorable budget variances for that department. Overproduction of a slow-moving product resulted in excessive inventory that had to eventually be marked down and sold at a loss
Which of the following would produce a labor rate variance? A. Poor quality materials causing breakage and work interruptions.B. Use of persons with high hourly wage rates in tasks that call for low hourly wage rates.C. Excessive number of hours worked in completing a job.D. An unfavorable variable overhead spending variance.