BUSN 278 Week 6 Quiz

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BUSN 278 Week 6 Quiz

 1.Question :(TCO 9) A variable cost is a cost that
Student Answer: remains the same despite changes in the level of activity.
 occurs at various times during the year.
 varies in total in proportion to changes in the level of activity.
 may or may not be incurred, depending on management’s discretion.


 2.Question :(TCO 9) 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?
Student Answer: Direct materials cost
 Direct labor cost
 Variable manufacturing overhead
 Fixed manufacturing overhead


 3.Question :(TCO 9) The Wiscow 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 total estimated cost for 2,600 machine hours using the high-low method to estimate the cost equation?
Student Answer: $9,730

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 4.Question :(TCO 8) Southern Company’s budgeted and actual sales for 2009 were:

ProductBudgeted SalesActual Sales
X20,000 units at $5.00 per unit17,500 units at $5.30 per unit
Y35,000 units at $9.00 per unit37,300 units at $8.80 per unit

What is the sales volume variance for the two products?

Student Answer: $6,990 Favorable
 $8,200 Favorable
 $6,990 Unfavorable
 $8,200 Unfavorable


 5.Question :(TCO 8) 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 at $3.50 per piece).  What is the material quantity variance?
Student Answer: $15,000 Favorable
 $17,500 Favorable
 $15,000 Unfavorable
 $17,500 Unfavorable



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