1. the corporation has the following annual data: sales: $700,000 contribution m
ID: 2381266 • Letter: 1
Question
1. the corporation has the following annual data:
sales: $700,000
contribution margin: $130,000
controllable fixed costs: $50,000
average total operating assets: $2,000,000
how much is ROI for the year?
a.35%
b.28.5%
c.4%
d.6.5%
2. given below is data from a management performance report:
contribution margin bedget: $600,000
actual: $580,000
difference: $20,000
controllable fixed cost budget: $200,000
actual: $190,000
difference: $10,000
the manager's overall performance is
a. above expectations
b. equal to expectations
c. below expectations
3. Direct materials standards are
quantity standard- 3 pounds
price standard- @2 per pound
1,500 units were produced in May.
During May, the company actually purchased and used 5,000 pounds of direct materials at an actual price of $2.20 per pound.
what is the direct materials quantity variance for May?
a.$1,000 unfavorable
b. $1,000 favorable
c. $1,100 unfavorable
d. $1,100 favorable
4. which of the following statements is true?
a. variances in different areas are never related
b. managers investigate all variances
c. repeating favorable variances could indicate that the standards are too low.
d. unfavorable variances always indicate a performance problem.
5. you have this data for a product made by newyork company.
direct labor standards are
quantity standard: 3 hrs
price standard: $16/hr
220 units were producted in March
During March, the company actually used 590 hours of direct labor at an actual price of $18 per hr.
what is the direct labor quantity variance for March?
a.$1,120 unfavorable
b. $1,120 favorable
c. $1,260 favorable
d. $1,260 unfavorable
Explanation / Answer
answer 2)
a. above expectations
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