20:57 15/5/25
Weekly Post-class Online quiz #8 - Chap 10: Managerial Accounting-T324WSB-5
Weekly Post-class Online quiz #8 - Chap 10
Due 4 Nov 2024 at 23:59
Points 15
Questions 15
Available 3 Nov 2024 at 23:59 - 4 Nov 2024 at 23:59 24 hours
Time limit 45 Minutes
This quiz was locked 4 Nov 2024 at 23:59.
Attempt history
LATEST
Attempt
Time
Score
Attempt 1
28 minutes
15 out of 15
Score for this quiz: 15 out of 15
Submitted 4 Nov 2024 at 22:05
This attempt took 28 minutes.
Question 1
1 / 1 pts
Sandy's Sauces, which produces stir-fry sauces, is developing direct
material standards. Each bottle of sauce requires 0.79 kilograms of
base. The allowance for waste is 0.40 kilograms per bottle, while the
allowance for rejects is 0.20 kilograms per bottle. What is the
standard quantity of base per bottle?
0.79 kilograms
0.99 kilograms
1.19 kilograms
Correct!
1.39 kilograms
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Weekly Post-class Online quiz #8 - Chap 10: Managerial Accounting-T324WSB-5
Question 2
1 / 1 pts
When auto manufacturer BMW purchased the Rolls-Royce brand
name, BMW had to hire and train a new staff of assembly workers.
The new workers were paid $20 per hour, worked a total of 7600
hours, and produced 1700 cars. BMW budgeted for a standard labor
rate of $26 per hour and 2.25 direct labor hours per car. What is the
direct labor efficiency variance for the Rolls-Royce division?
$75,500 unfavorable
$75,500 favorable
$98,150 favorable
Correct!
$98,150 unfavorable
Question 3
1 / 1 pts
When deciding whether or not to adopt standard costs and perform
variance analysis, management should do which of the following?
Correct!
Examine the costs and benefits of a standard costing
system
Update inaccurate standard costs
Adopt lean thinking
Increase automation of assembly lines
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Weekly Post-class Online quiz #8 - Chap 10: Managerial Accounting-T324WSB-5
1 / 1 pts
Question 4
A(n) ________ "arises because the number of units actually sold
differs from the static budget units."
flexible budget
Correct!
sales volume variance
benchmarking
overhead flexible budget variance
1 / 1 pts
Question 5
The following information describes a company's usage of direct
labor in a recent period:
Actual direct labor hours used
34,000
Actual rate per hour
$22.00
Standard rate per hour
$12.25
Standard hours for units produced
26,000
How much is the direct labor rate variance?
$253,500 favorable
$331,500 favorable
$253,500 unfavorable
Correct!
$331,500 unfavorable
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Weekly Post-class Online quiz #8 - Chap 10: Managerial Accounting-T324WSB-5
Question 6
1 / 1 pts
Kalanja Designs, which produces earrings, is developing direct
material standards. Each earring requires 0.32 kilograms of a
special metal. The allowance for waste is 0.70 kilograms per earring,
while the allowance for rejects is 0.10 kilograms per earring. What is
the standard quantity of metal per earring?
0.32 kilograms
1.02 kilograms
Correct!
1.12 kilograms
0.42 kilograms
Question 7
1 / 1 pts
At lean companies, employees tend to be multi-skilled and crosstrained to perform a number of duties. These workers are held in
high-esteem by management and are considered to be part of a
team effort, rather than a labor force to be controlled. Consequently,
this:
increases the importance of direct labor standards.
Correct!
decreases the importance of direct labor standards.
Both of the above.
None of the above.
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Weekly Post-class Online quiz #8 - Chap 10: Managerial Accounting-T324WSB-5
Question 8
1 / 1 pts
Happy Helpers Maid Service is calculating its standard direct labor
rate. The direct labor rate is $19 per hour. Happy Helpers incurs
payroll tax expense of 12% of the direct labor rate and incurs costs
for sick-days and vacation days of $3 per hour. What is the standard
rate per direct labor hour?
$22.00
Correct!
$24.28
$19.00
$21.28
Question 9
1 / 1 pts
The actual cost of direct labor per hour is $16.00 and the standard
cost of direct labor per hour is $9.50. The direct labor hours allowed
per finished unit is 0.25 hour. During the current period, 5700 units
of finished goods were produced using 3500 direct labor hours. How
much is the direct labor efficiency variance?
Correct!
$19,712.5 unfavorable
$19,712.5 favorable
$33,200 favorable
$33,200 unfavorable
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Weekly Post-class Online quiz #8 - Chap 10: Managerial Accounting-T324WSB-5
Question 10
1 / 1 pts
The actual cost of direct labor per hour is $18.00 and the standard
cost of direct labor per hour is $9.00. The direct labor hours allowed
per finished unit is 0.25 hour. During the current period, 5500 units
of finished goods were produced using 2500 direct labor hours. How
much is the direct labor rate variance?
$22,500 favorable
$49,500 favorable
Correct!
$22,500 unfavorable
$49,500 unfavorable
Question 11
1 / 1 pts
The actual cost of direct labor per hour is $16.00. Two and one half
standard direct labor hours are allowed per unit of finished goods.
During the current period, 2700 units were produced using 6500
direct labor hours. The direct labor efficiency variance is $3100
favorable. Calculate the standard direct labor rate per hour.
$16.00
Correct!
$12.40
$1.15
$2.18
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Weekly Post-class Online quiz #8 - Chap 10: Managerial Accounting-T324WSB-5
Question 12
1 / 1 pts
As managers use less and different types of direct materials, which
of the following standards do managers focus on to enhance
sustainability in the workplace?
Quantity/Efficiency standard
Price standard
Flexible standard
Correct!
Both A and B
Question 13
1 / 1 pts
Which term below is best paired with "The difference between the
actual overhead cost incurred and the flexible budget amount of
overhead cost for actual number of output"?
Sales volume variance
Flexible budget
Correct!
Overhead flexible budget variance
Benchmarking
Question 14
1 / 1 pts
Cost of goods sold is shown at which of the following on a standard
cost income statement?
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Weekly Post-class Online quiz #8 - Chap 10: Managerial Accounting-T324WSB-5
Standard cost
Actual cost
Neither A nor B
Correct!
Both A and B
Question 15
1 / 1 pts
The standard cost of direct labor per hour is $15.00. Two and one
half standard direct labor hours are allowed per unit of finished
goods. During the current period, 80 units were produced using
1850 direct labor hours. The direct labor rate variance is $1100
unfavorable. Calculate the actual cost of direct labor per hour.
$15.00
$23.13
Correct!
$15.59
$0.59
Quiz score: 15 out of 15
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8/8