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## ACCT 349 WEEK 1 QUIZ LATEST

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ACCT 349 WEEK 1 QUIZ LATEST

https://www.tutorialsservice.net/product/acct-349-week-1-quiz-latest/

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SUPPORT@TUTORIALSSERVICE.NET

ACCT 349 Week 1 Quiz Latest

ACCT349

ACCT 349 Week 1 Quiz Latest

Question :(TCO 10)

Which of the following statements is true about overhead cost variance analysis using activity-based

costing?

Overhead cost variances are calculated for output-unit level costs only.

A 4-variance analysis can be conducted.

Activity-based costing uses input measures for all activities, resulting in the inability to do flexible budgets

needed for variance analysis.

Question 2.(TCO 10)

Sebastian Company, which manufactures electrical switches, uses a standard cost system and carries all

inventories at standard. The standard manufacturing overhead costs per switch are based on direct labor

hours and are shown below:

Variable overhead (5 hours at \$12 per direct manufacturing labor hour) \$ 60

Fixed overhead (5 hours at \$15 per direct manufacturing labor hour, based on capacity of 200,000 direct

manufacturing labor hours per month) 75

Total overhead per switch \$ 135

The following information is available for the month of December:

46,000 switches were produced, although 40,000 switches were scheduled to be produced.

225,000 direct manufacturing labor hours were worked at a total cost of \$5,625,000.

Variable manufacturing overhead costs were \$2,750,000.

Fixed manufacturing overhead costs were \$3,050,000.

The variable overhead spending variance for December was

\$50,000 U

\$350,000 U

\$10,000 F

\$60,000 F

Question 3. (TCO 10)

Sebastian Company, which manufactures electrical switches, uses a standard cost system and carries all

inventories at standard. The standard manufacturing overhead costs per switch are based on direct labor

hours and are shown below:

Variable overhead (5 hours at \$12 per direct manufacturing labor hour) \$ 60

Fixed overhead (5 hours at \$15 per direct manufacturing labor hour, based on capacity of 200,000 direct

manufacturing labor hours per month) 75

Total overhead per switch \$ 135

The following information is available for the month of December:

46,000 switches were produced, although 40,000 switches were scheduled to be produced.

225,000 direct manufacturing labor hours were worked at a total cost of \$5,625,000.

Variable manufacturing overhead costs were \$2,750,000.

Fixed manufacturing overhead costs were \$3,050,000.

The fixed overhead production volume variance for December was

\$450,000 F

\$400,000 F

\$50,000 U

\$775,000 F

Question 4. (TCO 10)

The following information is for Pappillon Corporation’s variable manufacturing overhead costs last

month: favorable flexible-budget variance of \$3,000, unfavorable efficiency variance of \$2,500. The

spending variance is

\$500 favorable.

\$5,500 unfavorable.

\$5,500 favorable.

None of the above

Question 5. (TCO 10)

Budgeted overhead costs rates can be expressed as an amount per unit of output or per unit of input.

True