2. provides knowledge of cost behaviors in the standard setting process. 3. provides input of historical costs to the standard setting process.
Question 6
Using standard costs Question 7
An unfavorable materials quantity variance would occur if Question 8
Hofburg‘ s standard quantities for 1 unit of product include 2 pounds of materials and 1.5 labor hours. The standard rates are $ 2 per pound and $ 7 per hour. The standard overhead rate is $ 8 per direct labor hour. The total standard cost of Hofburg‘ s product is
Question 9
Scorpion Production Company planned to use 1 yard of plastic per unit budgeted at $ 81 a yard. However, the plastic actually cost $ 80 per yard. The company actually made 3,900 units, although it had planned to make only 3,300 units. Total yards used for production were 3,960. How much is the total materials variance?
Question 10