18 none of these Which of the following statements is ( are) true? an unfavourable DM quantity variance and an unfavourable DM price variance a. are always accompanied by an unfavourable DM flexible budget variance O b. none of these an unfavourable direct materials variance always results in an unfavourable direct labour efficiency variance ed. an unfavourable direct labor rate variance always results in a favourable labor efficiency variance. A plausible explanation for an unfavourable labor rate variance is imian of a. all of these b. the purchase of cheaper direct materials made it more difficult to handle the uc material so more direct labor hours were used c. there was an oversupply of labor and wage rates went up ere to search 直。 27) er RRFA F5 F7 F10 F11 F12 94 63

18 none of these Which of the following statements is ( are) true? an unfavourable DM quantity variance and an unfavourable DM price variance a. are always accompanied by an unfavourable DM flexible budget variance O b. none of these an unfavourable direct materials variance always results in an unfavourable direct labour efficiency variance ed. an unfavourable direct labor rate variance always results in a favourable labor efficiency variance. A plausible explanation for an unfavourable labor rate variance is imian of a. all of these b. the purchase of cheaper direct materials made it more difficult to handle the uc material so more direct labor hours were used c. there was an oversupply of labor and wage rates went up ere to search 直。 27) er RRFA F5 F7 F10 F11 F12 94 63

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Practical capacity Question options: a) will lead to an unfavorable fixed MOH volume variance if actual production does not meet planned practical capacity. b) typically leads to an unusually large, unfavorable fixed-MOH volume variance. c) will lead to an unfavorable fixed MOH volume variance if actual production exceeds planned practical capacity. d) will lead to a fixed MOH rate that will fluctuate with demand changes.
Which of the following statements is true? A) The spending variance for a variable expense will usually equal zero. B) The spending variance for a variable expense will be favorable if the amount of the expense contained in the flexible budget is greater than the actual amount of the expense. C) The spending variance for a variable expense will be favorable if the amount of the expense contained in the flexible budget is less than the actual amount of the expense. D) The spending variance for a variable expense can be favorable or unfavorable depending on whether the actual expense is greater than or less than the planned expense.
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Help question 26
What is a materials price variance? Describe this in your own words. Writing a formula is not a sufficient answer. Provide a real world example that would result in an unfavorable materials price variance
Should both favorable and unfavorable variances be investigated, or only the unfavorable ones? Explain your response. What if a company found that they had a favorable price variance and an unfavorable quantity variance for direct materials. What might be the cause(s) of this pattern of variances?
How frequently do you believe that firms should conduct variance analysis? Explain why?
At the beginning of the year, you estimated the following - Production - 75,000 units Raw Material - 270,000 pounds at a cost of $1,026,000 Direct Labor - 187,500 hours at a cost of $4,125,000 Variable Overhead - 135,000 machine hours at a cost of $567,000 Fixed Overhead - $900,000 At the end of year, the actual results were as follows - Production - 73,000 units Raw Material - 265,720 pounds purchased and used at a cost of $1,036,308 Direct Labor - 179,580 hours at a cost of $3,968,718 Variable Overhead - 133,590 machine hours at a cost of $558,406.20 Fixed Overhead - $891,000
If production is more or less than the standard volume, is it possible that no flexible-budget or production-volume variances would exist? Explain.
At the beginning of the year, you estimated the following - Production - 75,000 units Raw Material - 270,000 pounds at a cost of $1,026,000 Direct Labor - 187,500 hours at a cost of $4,125,000 Variable Overhead - 135,000 machine hours at a cost of $567,000 Fixed Overhead - $900,000 At the end of year, the actual results were as follows - Production - 73,000 units Raw Material - 265,720 pounds purchased and used at a cost of $1,036,308 Direct Labor - 179,580 hours at a cost of $3,968,718 Variable Overhead - 133,590 machine hours at a cost of $558,406.20 Fixed Overhead - $891,000
Can I get some help with this practice quesiton this is all the information I recieved regarding the question Thank you
What is a materials quantity variance? Describe this in your own words. Writing a formula is not a sufficient answer. Provide a real world example that would result in an unfavorable materials quantity variance