When preparing budgets, Pine, Inc.'s formula for wages and salaries costs was 8,000 of fixed cos

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Question

When preparing budgets, Pine, Inc.'s formula for wages and salaries costs was $8,000 of fixed costs and $1.00 per unit of variable costs. Pine planned to produce 9,500 units but actually produced 9,800 units. Actual wages and salaries costs were $17,300. Pine's spending variance for wages and salaries is: $200 Favorable $200 Unfavorable $500 Unfavorable $500 Favorable QUESTION 17 Oak Company's standard cost card for the product it manufactures is presented below: Standard quantity (or Standard Price (or Standard Cost hours) rate) Direct Material 2.5 pounds per unit $ 3.00 per pound $ 7.50 per unit Direct Labor 0.5 hours per unit $20.00 per hour $10.00 per unit Manufacturing Overhead 0.5 hours per unit $6.00 per hour $ 3.00 per unit During the current period, Oak purchased 21,000 pounds of material for $58,000. All of the material was used to produce 9,000 units of product. Oak's materials spending variance is: $9,500 Favorable $4,500 Unfavorable $5,000 Favorable $4,500 Favorable

          When preparing budgets, Pine, Inc.'s formula for wages and salaries costs was $8,000 of fixed costs and $1.00 per unit of variable costs. Pine planned to produce 9,500 units but actually produced 9,800 units. Actual wages and salaries costs were $17,300. Pine's spending variance for wages and salaries is:
$200 Favorable
$200 Unfavorable
$500 Unfavorable
$500 Favorable
QUESTION 17
Oak Company's standard cost card for the product it manufactures is presented below:
Standard quantity (or Standard Price (or Standard Cost
hours)
rate)
Direct Material
2.5 pounds per unit
$ 3.00 per pound
$ 7.50 per unit
Direct Labor
0.5 hours per unit
$20.00 per hour
$10.00 per unit
Manufacturing Overhead
0.5 hours per unit
$6.00 per hour
$ 3.00 per unit
During the current period, Oak purchased 21,000 pounds of material for $58,000. All of the material was used to produce 9,000 units of product. Oak's materials spending variance is:
$9,500 Favorable
$4,500 Unfavorable
$5,000 Favorable
$4,500 Favorable

When preparing budgets, Pine, Inc.'s formula for wages and salaries costs was 8,000 of fixed costs and1.00 per unit of variable costs. Pine planned to produce 9,500 units but actually produced 9,800 units. Actual wages and salaries costs were 17,300. Pine's spending variance for wages and salaries is:200 Favorable
200 Unfavorable500 Unfavorable
500 Favorable
QUESTION 17
Oak Company's standard cost card for the product it manufactures is presented below:
Standard quantity (or Standard Price (or Standard Cost
hours)
rate)
Direct Material
2.5 pounds per unit 3.00 per pound
7.50 per unit
Direct Labor
0.5 hours per unit20.00 per hour
10.00 per unit
Manufacturing Overhead
0.5 hours per unit6.00 per hour
3.00 per unit
During the current period, Oak purchased 21,000 pounds of material for58,000. All of the material was used to produce 9,000 units of product. Oak's materials spending variance is:
9,500 Favorable4,500 Unfavorable
5,000 Favorable4,500 Favorable

Added by Stephen B.

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