Use the following to answer questions 63 66:
The Alpha Company produces toys for national distribution. Standards for a particular toy are:
Materials: 12 ounces per unit at 56A??c per ounce.
Labor: 2 hours per unit at $2.75 per hour.
During the month of December, the company produced 1,000 units. Information for the month follows:
Materials: 14,000 ounces were purchased and used at a total cost of $7,140.
Labor: 2,500 hours worked at a total cost of $8,000.
The materials price variance is:
$700 U.
$420 U.
$420 F.
$700 F.
Question 64: 1 pts The materials quantity variance is:
The materials quantity variance is:
$1,120 U.
$1,820 F.
$1,820 U.
$1,120 F.
Question 65: 1 pts The labor rate variance is:
The labor rate variance is:
$2,500 F.
$1,125 F.
$1,125 U.
$2,500 U.
Question 66: 1 pts The labor efficiency variance is:
The labor efficiency variance is:
$1,600 U.
$1,375 U.
$1,375 F.
$1,600 F.