ACCA Variance Analysis — practice questions
18 free MCQs with worked solutions. Tap any question for the answer + explanation, or practice them all in the app.
Practice ACCA Variance Analysis in the app →What is a standard cost in variance analysis?8,900 pounds of material are used in production when 8,600 pounds were budgeted. How is that result described?One unit needs 8.6 pounds at $6.00 a pound, 5 hours at $10.00 an hour and 1 hour of factory overhead at $12.008,400 pounds of material are actually used at an actual price of $6.30 per pound. What is the total actual dirActual usage is 8,400 pounds against a standard of 8,600 pounds, with a standard price of $6.00 and an actual The actual price is $6.30 per pound against a standard of $6.00, and 8,400 pounds are actually used. What is tA direct materials quantity variance of $1,200 favourable sits alongside a price variance of $2,520 unfavourabActual direct labour is 5,100 hours at $9.50 per hour against a standard of 5,000 hours at $10.00. What is theActual hours are 5,100 against a standard of 5,000, the standard rate is $10.00 and the actual rate is $9.50. The actual rate is $9.50 per hour against a standard of $10.00, and 5,100 hours are actually worked. What is tA direct labour time variance of $1,000 unfavourable sits alongside a rate variance of $2,550 favourable. WhatBudgeted factory overhead at normal capacity is $120,000 and normal capacity is 10,000 direct labour hours. WhThe variable factory overhead rate is $5 per direct labour hour and 8,000 units are produced, each taking one Actual variable factory overhead is $39,500 and budgeted variable factory overhead for the units produced is $Normal capacity is 10,000 standard hours, 8,000 standard hours apply to the units produced, and the fixed factNormal capacity is 10,000 standard hours, 11,000 standard hours apply to the units produced, and the fixed facGross profit at standard is $86,400 and the net variance from standard cost is $430 favourable. What is gross Gross profit is $86,830, selling expenses are $18,300 and administrative expenses are $9,100. What is net inco