Markus, Inc produces a specialized machine part used in forklifts. For last year's operations, the following data were gathered: Units produced: 55,000 Direct labor: 29,000 hours @ $9.00 Actual variable overhead: $135,000 Markus employs a standard costing system. During the year, a variable overhead rate of $5.00 was used. The labor standard requires 0.50 hours per unit produced. The variable
overhead spending and efficiency variances are, respectively:
A) $10,000 U and $7,500 U.
B) $10,000 F and $7,500 U.
C) $7,500 U and $10,000 F.
D) $10,000 F and $7,500 F.
E) none of these.
B
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Using the information in Table J.11 and the slack per remaining operations ratio (S/RO) rule, what is the average past due?
A) fewer than or equal to 10 hours B) greater than 10 hours but fewer than or equal to 20 hours C) greater than 20 hours but fewer than or equal to 30 hours D) greater than 30 hours
Indicate whether each of the following statements is true or false.A favorable variance may indicate the existence of unfavorable conditions. ______Managers should be praised or punished based on variances. ______Budget slack exists when performance standards are set at an ideal, unachievable level. ______Establishing standards is the least difficult aspect of using a standard cost system. ______A standard is the amount a price, cost, or quantity should be. ______
What will be an ideal response?
Martha knows that to be successful, everything her company does must create customer
A. premiums. B. products. C. services D. value.
Sam, the CEO of a product development company, is planning to implement an ERP system in his company. However, most of his colleagues advise him against implementing such a system saying that such systems have more weaknesses than strengths
Why should Sam still go ahead with the implementation?A) ERP systems are very easy to implement, especially in large organizations. B) Research shows that almost all ERP implementations have been a success. C) Once in place, the ERP can dramatically enhance operational efficiencies and reduce costs. D) ERP implementation rarely affects workflow and therefore requires very little usage training.