Standard costing and variance analysis
Quiz Content
*
not completed
.
The standard costing information for the variable overhead allocated to large planters made by Bill and Ben is as follows:
Standard variable overhead hours per large planter: 1
Standard cost of 1 hour of variable overhead: £3.20
Expected production and sales of large planters during April: 800
Actual outcomes for April
Actual production and sales of large planters in April: 900
Total variable overhead hours used in producing 900 large planters in April: 810
Hourly variable overhead expenditure incurred in producing 900 large planters in April: £3.50
Based on the above standard costing data and information on actual outcomes, what is the variable overhead total variance for production of large planters in April?
£45 favourable
correct
incorrect
£270 unfavourable
correct
incorrect
£275 unfavourable
correct
incorrect
£315 favourable
correct
incorrect
*
not completed
.
The standard costing information for the variable overhead allocated to large planters made by Bill and Ben is as follows:
Standard variable overhead hours per large planter: 1
Standard cost of 1 hour of variable overhead: £3.20
Expected production and sales of large planters during April: 800
Actual outcomes for April
Actual production and sales of large planters in April: 900
Total variable overhead hours used in producing 900 large planters in April: 810
Hourly variable overhead expenditure incurred in producing 900 large planters in April: £3.50
Based on the above standard costing data and information on actual outcomes, what is the variable overhead expenditure variance for the production of large planters in April?
£35 unfavourable
correct
incorrect
£243 unfavourable
correct
incorrect
£275 unfavourable
correct
incorrect
£315 favourable
correct
incorrect
*
not completed
.
The standard costing information for the variable overhead allocated to large planters made by Bill and Ben is as follows:
Standard variable overhead hours per large planter: 1
Standard cost of 1 hour of variable overhead: £3.20
Expected production and sales of large planters during April: 800
Actual outcomes for April
Actual production and sales of large planters in April: 900
Total variable overhead hours used in producing 900 large planters in April: 810
Hourly variable overhead expenditure incurred in producing 900 large planters in April: £3.50
Based on the above standard costing data and information on actual outcomes, what is the variable overhead efficiency variance for the production of large planters in April?
£35 unfavourable
correct
incorrect
£275 unfavourable
correct
incorrect
£288 favourable
correct
incorrect
£315 favourable
correct
incorrect
*
not completed
.
The standard costing information for the variable overhead allocated to medium planters made by Bill and Ben is as follows:
Standard variable overhead hours per medium planter: 0.75
Standard cost of 1 hour of variable overhead: £3.20
Expected production and sales of medium planters during April: 1,000
Actual outcomes for April
Actual production and sales of medium planters in April: 1,100
Total variable overhead hours used in producing 1,100 medium planters in April: 770
Variable overhead expenditure incurred in producing 1,100 medium planters in April: £1,925
Based on the above standard costing data and information on actual outcomes, what is the variable overhead total variance for production of medium planters in April?
£55 favourable
correct
incorrect
£475 favourable
correct
incorrect
£539 favourable
correct
incorrect
£715 favourable
correct
incorrect
*
not completed
.
The standard costing information for the variable overhead allocated to medium planters made by Bill and Ben is as follows:
Standard variable overhead hours per medium planter: 0.75
Standard cost of 1 hour of variable overhead: £3.20
Expected production and sales of medium planters during April: 1,000
Actual outcomes for April
Actual production and sales of medium planters in April: 1,100
Total variable overhead hours used in producing 1,100 medium planters in April: 770
Variable overhead expenditure incurred in producing 1,100 medium planters in April: £1,925
Based on the above standard costing data and information on actual outcomes, what is the variable overhead expenditure variance for the production of medium planters in April?
£55 favourable
correct
incorrect
£475 favourable
correct
incorrect
£539 favourable
correct
incorrect
£1,056 favourable
correct
incorrect
*
not completed
.
The standard costing information for the variable overhead allocated to medium planters made by Bill and Ben is as follows:
Standard variable overhead hours per medium planter: 0.75
Standard cost of 1 hour of variable overhead: £3.20
Expected production and sales of medium planters during April: 1,000
Actual outcomes for April
Actual production and sales of medium planters in April: 1,100
Total variable overhead hours used in producing 1,100 medium planters in April: 770
Variable overhead expenditure incurred in producing 1,100 medium planters in April: £1,925
Based on the above standard costing data and information on actual outcomes, what is the variable overhead efficiency variance for the production of medium planters in April?
£55 favourable
correct
incorrect
£176 favourable
correct
incorrect
£475 favourable
correct
incorrect
£1,056 favourable
correct
incorrect
*
not completed
.
The standard costing information for the variable overhead allocated to small planters made by Bill and Ben is as follows:
Standard variable overhead hours per small planter: 0.50
Standard cost of 1 hour of variable overhead: £3.20
Expected production and sales of small planters during April: 1,500
Actual outcomes for April
Actual production and sales of small planters in April: 1,300
Total variable overhead hours used in producing 1,300 small planters in April: 780
Variable overhead expenditure incurred in producing 1,300 small planters in April: £1,950
Based on the above standard costing data and information on actual outcomes, what is the variable overhead total variance for production of small planters in April?
£130 favourable
correct
incorrect
£300 favourable
correct
incorrect
£450 favourable
correct
incorrect
£546 favourable
correct
incorrect
*
not completed
.
The standard costing information for the variable overhead allocated to small planters made by Bill and Ben is as follows:
Standard variable overhead hours per small planter: 0.50
Standard cost of 1 hour of variable overhead: £3.20
Expected production and sales of small planters during April: 1,500
Actual outcomes for April
Actual production and sales of small planters in April: 1,300
Total variable overhead hours used in producing 1,300 small planters in April: 780
Variable overhead expenditure incurred in producing 1,300 small planters in April: £1,950
Based on the above standard costing data and information on actual outcomes, what is the variable overhead expenditure variance for the production of small planters in April?
£156 favourable
correct
incorrect
£300 favourable
correct
incorrect
£450 favourable
correct
incorrect
£546 favourable
correct
incorrect
*
not completed
.
The standard costing information for the variable overhead allocated to small planters made by Bill and Ben is as follows:
Standard variable overhead hours per small planter: 0.50
Standard cost of 1 hour of variable overhead: £3.20
Expected production and sales of small planters during April: 1,500
Actual outcomes for April
Actual production and sales of small planters in April: 1,300
Total variable overhead hours used in producing 1,300 small planters in April: 780
Variable overhead expenditure incurred in producing 1,300 small planters in April: £1,950
Based on the above standard costing data and information on actual outcomes, what is the variable overhead efficiency variance for the production of small planters in April?
£156 favourable
correct
incorrect
£300 favourable
correct
incorrect
£416 unfavourable
correct
incorrect
£450 unfavourable
correct
incorrect
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