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Quzzies

This document is a review assessment for Chapter 8 in a cost accounting course. It consists of 6 multiple choice questions testing concepts related to variable overhead variances, including variable overhead spending, efficiency, and fixed overhead production volume variances. The student scored 30 out of 30 points by correctly answering all questions in under an hour.

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Kionna Tamara
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711 views2 pages

Quzzies

This document is a review assessment for Chapter 8 in a cost accounting course. It consists of 6 multiple choice questions testing concepts related to variable overhead variances, including variable overhead spending, efficiency, and fixed overhead production volume variances. The student scored 30 out of 30 points by correctly answering all questions in under an hour.

Uploaded by

Kionna Tamara
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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COST ACCOUNTNG (084362_FA11_BL) > ASSGNMENTS > QUZZES AND SURVEYS > REVEW ASSESSMENT: CHAPTER 8

Review Assessment: Chapter 8


User Kionna Morrison
Submitted 12/4/11 10:15 PM
Name Chapter 8
Status Completed
Score 30 out of 30 points
Time EIapsed 0 hours, 48 minutes, and 24 seconds out of 1 hours and 0 minutes allowed.
Instructions

Question 1 5 out of 5 points

Roberts Corporation manufactured 100,000 buckets during February. Theoverhead cost-
allocation base is $5.00 per machine-hour. The following variable overhead data pertain to
February. Production: Actual is 100,000 units and budgeted is 100,000 units Machine-hours:
actual is 9,800 hours and budgeted is 10,000 hours Variable overhead costs per machine-hour:
actual is $5.25 and budgetd is $5.00 What is the actual variable overhead costs?


Correct Answers: $51,450
Feedback: 9,800 mh x %5.25 = $51,450
9,800 mh x %5.25 = $51,450


Question 2 5 out of 5 points

Roberts Corporation manufactured 100,000 buckets during February. Theoverhead cost-
allocation base is $5.00 per machine-hour. The following variable overhead data pertain to
February. Production: Actual is 100,000 units and budgeted is 100,000 units Machine-hours:
actual is 9,800 hours and budgeted is 10,000 hours Variable overhead costs per machine-hour:
actual is $5.25 and budgetd is $5.00 What is the flexible-budget amount?


Correct Answer: $50,000
Feedback: 10,000 mh x $5.00 = $50,000


Question 3 5 out of 5 points

Roberts Corporation manufactured 100,000 buckets during February. Theoverhead cost-
allocation base is $5.00 per machine-hour. The following variable overhead data pertain to
February. Production: Actual is 100,000 units and budgeted is 100,000 units Machine-hours:
actual is 9,800 hours and budgeted is 10,000 hours Variable overhead costs per machine-hour:
actual is $5.25 and budgetd is $5.00 What is the variable overhead spending variance?


Correct Answer: $2,450 unfavorable
Feedback: ($5.25 - $5.00) x 9,800 mh = $2,450 unfavorable


Question 4 5 out of 5 points

Roberts Corporation manufactured 100,000 buckets during February. Theoverhead cost-
allocation base is $5.00 per machine-hour. The following variable overhead data pertain to
February. Production: Actual is 100,000 units and budgeted is 100,000 units Machine-hours:
actual is 9,800 hours and budgeted is 10,000 hours Variable overhead costs per machine-hour:
actual is $5.25 and budgetd is $5.00 What is the variable overhead efficiency variance?


Correct Answer: $1,000 favorable
Feedback: (9,800 - 10,000) x $5.00 = $1,000 favorable


Question 5 5 out of 5 points

For fixed manufacturing overhead, there is no


Correct Answer: efficiency variance
Feedback: efficiency variance


Question 6 5 out of 5 points

The difference between budgeted fixed manufacturing overhead and the fixed manufacturing
overhead allocated to acutal output units achieved is called the fixed overhead.

Correct Answer: production-volume variance
Feedback: production-volume variance

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