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    1.  Which one of the following would be the same total amount on a flexible budget and a static budget if the activity level is different for the two types of budgets? 

         A-  Direct materials cost

         B-  Direct labor cost

         C-  Variable manufacturing overhead

         D- Fixed manufacturing overhead

     

    2.  The Chambers Manufacturing Company recorded overhead costs of $14,182 at an activity level of 4,200 machine hours and $8,748 at 2,300 machine hours. The records also indicated that overhead of $9,730 was incurred at 2,600 machine hours. What is the variable cost per machine hour using the high-low method to estimate the cost equation? 

           $2.78

           $2.86

           $3.10

           $3.38

     

    3.  Southern Company’s budgeted and actual sales for 2009 were:

     

     

    Product:

     X

     Y

        

     

    Budgeted Sales

     X-20,000 Units at $5.00 per unit

     Y-35,000 Units at $9.00 per unit

     

        

     

    Actual Sales:

    X-17,500 Units at $5.30 per unit

    Y-17,300 Units at $8.30 per unit

     

     

    What is the total sales variance for the two products? 

        A-   $2,210 Favorable

        B-   $5,990 Favorable

        C-   $6,990 Favorable

        D-   $8,200 Favorable

     

    4.  Southern Company manufactures Product X.  The standard cost of one unit of output is $12.00 (four pieces at $3.00 per piece).  During the first quarter, 5,000 units were made, at an actual cost of $10.50 per unit (three pieces were $3.50 per piece).  What is the material price variance? 

        A-   $7,500 Favorable

        B-   $10,000 Favorable

        C-   $7,500 Unfavorable

        D-   $10,000 Unfavorable

     

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