QUIZ 3 : TOPIC 10 [Standard Costing & Variance Analysis]

Given that:

Variable Overhead Expenditure Variance = 960F

Variable Overhead Efficiency Variance = 600F

Fixed Overhead Budget Variance = 2,100F

Fixed Overhead Volume Variance = 2,600UF,

What would be the amount of variable overhead variance and fixed overhead variance?

• Variable overhead variance 1,560F; Fixed overhead variance 500UF

• Variable overhead variance 1,560F; Fixed overhead variance 4,700UF

• Variable overhead variance 600F; Fixed overhead variance 2,100F

• Variable overhead variance 1,650F; Fixed overhead variance 5000UF

Given that:

Variable Overhead Expenditure Variance = 960F

Variable Overhead Efficiency Variance = 600F

Fixed Overhead Budget Variance = 2,100F

Fixed Overhead Volume Variance = 2,600UF,

How much manufacturing overhead is under/over-applied?

• RM1,060 Under-applied

• RM1,060 Over-applied

• RM360 Under-applied

• RM360 Over-applied

Determine the material price variance?

• RM2,425 Favorable

• RM2,425 Unfavorable

• RM196,425 Favorable

• RM195,425 Unfavorable

Determine the material usage variance?

• RM46,075 Favorable

• RM46,075 Unfavorable

• RM11,500 Favorable

• RM11,500 Unfavorable

How much is the actual hours worked?

• 4,200

• 4,800

• 3,600

How much is the actual price?

• RM2

• RM6

• RM2.10

How much is the standard price?

• RM2

• RM6

• RM2.10

Determine the material price variance.

• RM2,500 Favorable

• RM2,500 Unfavorable

• RM2,400 Favorable

• RM2,400 Unfavorable

Determine the material usage variance.

• RM2,000 Favorable

• RM2,000 Unfavorable

• RM2,400 Favorable

• RM2,400 Unfavorable

Determine the labour rate variance.

• RM8,500 Favorable

• RM8,500 Unfavorable

• RM68,000 Favorable

• RM68,000 Unfavorable