The following materials standards have been established for a particular product: Standard quantity

The following materials standards have been established for a particular product: Standard quantity per unit of output ………. 3.2 meters Standard price. …………. $13.40 per meter The following data pertain to operations concerning the product for the last month: Actual materials purchased.. meters Actual cost of materials purchased……….. $59,800 Actual materials used in production ………. 4,400 meters Actual output ……… 1,300 units Reference: 10-14 What is the materials price variance for the month? O $1,840 U 0 $1,760 U $1,760 F $1,840 F A furniture manufacturer has a standard costing system based on standard direct labor-hours (DLHs) as the measure of activity. Data from the company's flexible budget for manufacturing overhead are given below: 8,500 DLHS Denominator level of activity…… Overhead costs at the denominator activity level: Variable overhead cost ……. Fixed overhead cost. $19,550 $93,075 The following data pertain to operations for the most recent period: Actual hours. Standard hours allowed for the actual output…….. Actual total variable overhead cost… Actual total fixed overhead cost.. Reference: 11-20 8,600 DLHS 8,575 DLHS $18,490 $91,225 What was the fixed overhead volume variance for the period to the nearest dollar? O $274 U 0 $1,095 F O $798 F $821 F

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