29 Jun Question 121 Ventura uses a just-in-time (JI
Question
121 Ventura uses a just-in-time (JIT) manufacturing system for all of its materials, components, and products. The master budget of the company for June called for use of 11,000 square feet of materials, while the flexible budget for the actual output of the month had 10,000 square feet of materials at a standard cost of $9.60 per square foot. Company records show that the actual price paid for the materials used in June was $9.50 per square foot, and that the direct materials purchase-price variance for the month was $1,040.
The materials usage (quantity) variance for June was:
A. $3,800 unfavorable.
B. $3,840 unfavorable.
C. $5,700 unfavorable.
D. $5,760 unfavorable.
E. $8,560 favorable.
122. Pokeman Bunch Inc., manufactures PokeMonster figures and has the following data from its operation for the year just completed.
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The column heading identified as A is:
A. Selling price variance.
B. Efficiency variance.
C. Flexible-budget (FB) variances.
D. Sales-volume variance.
E. Production-volume variance.
123. Pokeman Bunch Inc., manufactures PokeMonster figures and has the following data from its operation for the year just completed.
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The column heading identified as B is:
A. Selling price variance.
B. Efficiency variance.
C. Flexible-budget (FB) variances.
D. Sales-volume variance.
E. Production-volume variance.
124. Pokeman Bunch Inc., manufactures PokeMonster figures and has the following data from its operation for the year just completed.
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The amount C is:
A. $72,000.
B. $74,400.
C. $75,000.
D. $90,000.
E. $111,000.
125. Pokeman Bunch Inc., manufactures PokeMonster figures and has the following data from its operation for the year just completed.
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The amount D is:
A. $12,000.
B. $15,000.
C. $16,500.
D. $18,000.
E. $33,000.
126. Pokeman Bunch Inc., manufactures PokeMonster figures and has the following data from its operation for the year just completed.
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The amount E is:
A. $61,500.
B. $76,500.
C. $79,500.
D. $88,500.
E. $91,500.
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