Need in 45 min

Oct 20th, 2013
HelloWorld
Category:
Business & Finance
Price: $15 USD

Question description

1. (TCO 4) The standard cost sheet includes all of the following, except (Points : 3)  the standard cost per unit.
 the standard quantity allowed for actual production.
 the standard price.
 the standard quantity per unit.

2. (TCO 4) The usage variances focus on the difference between (Points : 3)
 actual quantity used and standard quantity allowed for actual production.
 actual costs of inputs and standard costs of inputs.
 actual quantity used and standard quantity allowed for budgeted production.
 Both A and B

3. (TCO 4) Which factor would cause an unfavorable material quantity variance? (Points : 3)
 Using poorly maintained machinery
 Using higher quality materials
 Using more highly skilled workers
 Receiving discounts for purchasing larger-than-normal quantities

4. (TCO 4) A 5% wage increase for all factory employees would affect which variance? (Points : 3)
 Direct materials price variance
 Direct labor rate variance
 Direct labor efficiency variance
 Variable manufacturing overhead efficiency variance

5. (TCO 4) Which person is most likely responsible for an unfavorable variable overhead efficiency variance? (Points : 3)
 Production supervisor
 Accountant
 Personnel director
 Supplier

6. (TCO 6) Which market is characterized by the following: many buyers and sellers, a homogeneous product, easy entry into and exit from the industry, and all firms being price takers? (Points : 3)
 Perfectly competitive market
 Monopolistic competition
 Monopoly
 Oligopoly

7. (TCO 6) When firms with market power price products too high, companies are (Points : 3)
 price gouging.
 using price discrimination.
 predatorily pricing.
 penetration pricing.

8. (TCO 6) Under absorption costing, when production is less than sales volume, the profits, using variable costing procedures, will be (Points : 3)
 less than.
 greater than.
 equal to.
 randomly different than.

9. (TCO 6) The contribution margin variance is favorable if the budgeted contribution margin is less than the (Points : 3)
 budgeted unit price.
 actual unit price.
 actual contribution margin.
 budgeted variable expenses.

10. (TCO 6) The sum of the change in units for each product multiplied by the difference between the budgeted contribution margin and the budgeted average unit contribution margin is called the (Points : 3)
 market share variance.
 sales mix variance.
 overall sales variance.
 market size variance.

Tutor Answer

(Top Tutor) Daniel C.
(997)
School: Rice University
PREMIUM TUTOR

Studypool has helped 1,244,100 students

8 Reviews


Summary
Quality
Communication
On Time
Value
Five Star Tutor
Dec 4th, 2016
" Outstanding Job!!!! "
kpcutie
Nov 21st, 2016
" Excellent job "
Joemoe
Nov 12th, 2016
" <3 it, thanks for saving me time. "
Hemapathy
Nov 7th, 2016
" all I can say is wow very fast work, great work thanks "
pmallory
Oct 29th, 2016
" Totally impressed with results!! :-) "
kevin12622
Oct 16th, 2016
" Goes above and beyond expectations ! "
kiln82
Oct 7th, 2016
" awesome work thanks "
likeplum4
Sep 23rd, 2016
" Excellent work as usual "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1831 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors