MA (F2) – Management Accounting - dạng bài tập ôn luyện môn F2 acca MA (F2) – Management Accounting - dạng bài tập ôn luyện môn F2 acca MA (F2) – Management Accounting - dạng bài tập ôn luyện môn F2 acca
Trang 1Chapter 26: Variance Analysis - Practice Exam
Part 1: Exam Questions
Instructions: This exam consists of 50 questions on variance analysis, including fixed and variable
overhead variances, material and labor variances, and sales variances Questions include multiple-choice, true/false, and scenario-based formats Select the best answer for each (Note: For some questions, variances are to be calculated, and options are provided in explanations.)
1 A company operates a standard marginal costing system Last month, actual fixed overhead
expen-diture was 2% below budget, and the fixed overhead expenexpen-diture variance was $1,250 What was the actual fixed overhead expenditure?
a) $62,500 b) $61,250 c) $62,475 d) $63,750
2 A company operates a standard costing system Last months variance analysis shows a favorable
materials price variance and an adverse labor efficiency variance Which two statements are most consistent with the variance analysis?
a) Superior quality materials were purchased and used
b) Higher graded workers were used on production
c) Lower graded workers were used on production
d) Inferior quality materials were purchased and used
3 When a manufacturing company operates a standard marginal costing system, there are no fixed
production overhead variances Is this statement true or false?
a) True b) False
4 A company uses standard costing The standard variable overhead cost for a product is 6 direct labor
hours @ $10 per hour Last month, 3,900 units were manufactured, actual expenditure on variable overheads was $235,000, and 24,000 hours were worked What are the variable overhead expenditure and efficiency variances?
a) Expenditure: $1,000 F, Efficiency: $3,000 A
b) Expenditure: $5,000 A, Efficiency: $3,000 F
c) Expenditure: $5,000 F, Efficiency: $3,000 A
Trang 2d) Expenditure: $1,000 A, Efficiency: $3,000 F
5 A companys budgeted sales were 10,000 units at $20 per unit with a standard contribution of $8 per
unit Last month, actual sales were 10,500 units at $19.50 per unit What were the sales price and sales volume contribution variances?
a) Price: $5,250 A, Volume: $4,000 F
b) Price: $5,250 F, Volume: $4,000 A
c) Price: $5,000 A, Volume: $4,500 F
d) Price: $5,000 F, Volume: $4,500 A
6 True/False: A favorable variance always indicates better-than-expected performance.
a) True b) False
7 A company budgets 5,000 units at a standard material cost of $4 per unit Actual production was
5,200 units using materials costing $21,320 The material price variance is:
a) $1,320 A b) $1,320 F c) $800 A d) $800 F
8 A product has a standard labor cost of 4 hours at $15 per hour Last month, 2,000 units were produced
using 8,200 hours at $15.50 per hour The labor rate variance is:
a) $4,100 A b) $4,100 F c) $3,000 A d) $3,000 F
9 True/False: In standard costing, the material usage variance is calculated based on the actual price
of materials
a) True b) False
10 A company budgets fixed overheads of $50,000 for 10,000 units Actual production was 9,800 units,
and actual fixed overheads were $49,500 The fixed overhead expenditure variance is:
a) $500 F b) $500 A c) $1,000 F d) $1,000 A
11 A product has a standard variable overhead of 3 hours at $5 per hour For 1,000 units produced,
3,200 hours were worked, and actual costs were $16,500 The variable overhead efficiency variance is: a) $1,000 A b) $1,000 F c) $500 A d) $500 F
12 True/False: The sales volume contribution variance measures the impact of selling at a different
price than budgeted
a) True b) False
13 A company budgets 8,000 units at $10 per unit for materials Actual usage was 8,200 units at $9.80
per unit The material price variance is:
a) $1,640 F b) $1,640 A c) $2,000 F d) $2,000 A
14 A product requires 2 kg of material at $6 per kg Last month, 5,000 units were produced using 10,200
kg at $5.90 per kg The material usage variance is:
Trang 3a) $1,200 A b) $1,200 F c) $1,000 A d) $1,000 F
15 True/False: In marginal costing, fixed overhead volume variance does not exist.
a) True b) False
16 A company budgets 12,000 units with a standard labor cost of 5 hours at $12 per hour Actual
production was 11,800 units using 59,500 hours at $12.20 per hour The labor efficiency variance is: a) $6,000 A b) $6,000 F c) $7,200 A d) $7,200 F
17 A companys budgeted sales are 15,000 units at $25 per unit with a standard contribution of $10 per
unit Actual sales were 14,800 units at $25.50 per unit The sales price variance is:
a) $7,400 F b) $7,400 A c) $7,500 F d) $7,500 A
18 True/False: A favorable labor rate variance indicates workers were paid less than the standard rate.
a) True b) False
19 A product has a standard variable overhead of 4 hours at $8 per hour For 2,500 units produced,
10,200 hours were worked, and actual costs were $82,000 The variable overhead expenditure variance is:
a) $1,600 A b) $1,600 F c) $2,000 A d) $2,000 F
20 A company budgets fixed overheads of $100,000 for 20,000 units Actual production was 19,500 units,
and actual fixed overheads were $98,000 The fixed overhead expenditure variance is:
a) $2,000 F b) $2,000 A c) $1,000 F d) $1,000 A
21 A product requires 3 hours of labor at $20 per hour Last month, 1,000 units were produced using
3,100 hours at $19.80 per hour The labor rate variance is:
a) $620 F b) $620 A c) $600 F d) $600 A
22 True/False: The material price variance is calculated using the standard quantity of materials.
a) True b) False
23 A company budgets 6,000 units with a standard material cost of 2 kg at $5 per kg Actual production
was 6,200 units using 12,500 kg at $4.90 per kg The material usage variance is:
a) $1,000 A b) $1,000 F c) $1,500 A d) $1,500 F
24 A company budgets sales of 5,000 units at $30 per unit with a standard contribution of $12 per unit.
Actual sales were 5,100 units at $29.80 per unit The sales volume contribution variance is:
a) $1,200 F b) $1,200 A c) $1,000 F d) $1,000 A
25 True/False: In absorption costing, fixed overhead volume variance measures the difference between
budgeted and actual fixed overhead costs
a) True b) False
Trang 426 A product has a standard variable overhead of 5 hours at $6 per hour For 4,000 units produced,
20,500 hours were worked, and actual costs were $124,000 The variable overhead efficiency variance is:
a) $3,000 A b) $3,000 F c) $1,500 A d) $1,500 F
27 A company budgets 10,000 units with a standard labor cost of 4 hours at $10 per hour Actual
production was 9,900 units using 40,000 hours at $10.10 per hour The labor rate variance is: a) $4,000 A b) $4,000 F c) $3,960 A d) $3,960 F
28 A product requires 2 kg of material at $8 per kg Last month, 3,000 units were produced using 6,100
kg at $7.90 per kg The material price variance is:
a) $610 F b) $610 A c) $600 F d) $600 A
29 True/False: The sales price variance is favorable if the actual selling price is higher than the standard
price
a) True b) False
30 A company budgets fixed overheads of $80,000 for 8,000 units Actual production was 7,900 units,
and actual fixed overheads were $79,000 The fixed overhead expenditure variance is:
a) $1,000 F b) $1,000 A c) $2,000 F d) $2,000 A
31 A product has a standard labor cost of 3 hours at $12 per hour For 2,000 units produced, 6,200 hours
were worked at $12.20 per hour The labor efficiency variance is:
a) $2,400 A b) $2,400 F c) $2,000 A d) $2,000 F
32 A company budgets sales of 12,000 units at $15 per unit with a standard contribution of $6 per unit.
Actual sales were 12,200 units at $14.90 per unit The sales price variance is:
a) $1,220 A b) $1,220 F c) $1,200 A d) $1,200 F
33 True/False: The variable overhead efficiency variance is calculated using the standard variable
over-head rate
a) True b) False
34 A product requires 4 hours of labor at $14 per hour Last month, 1,500 units were produced using
6,100 hours at $13.90 per hour The labor rate variance is:
a) $610 F b) $610 A c) $600 F d) $600 A
35 A company budgets 7,000 units with a standard material cost of 3 kg at $4 per kg Actual production
was 7,100 units using 21,400 kg at $4.10 per kg The material usage variance is:
a) $1,200 A b) $1,200 F c) $1,000 A d) $1,000 F
36 A product has a standard variable overhead of 2 hours at $7 per hour For 5,000 units produced,
10,200 hours were worked, and actual costs were $71,800 The variable overhead expenditure variance
Trang 5a) $600 A b) $600 F c) $700 A d) $700 F
37 True/False: In marginal costing, sales volume contribution variance is calculated using the standard
selling price
a) True b) False
38 A company budgets fixed overheads of $60,000 for 6,000 units Actual production was 5,900 units,
and actual fixed overheads were $61,000 The fixed overhead expenditure variance is:
a) $1,000 A b) $1,000 F c) $2,000 A d) $2,000 F
39 A product requires 5 kg of material at $3 per kg Last month, 2,000 units were produced using 10,200
kg at $2.95 per kg The material price variance is:
a) $510 F b) $510 A c) $500 F d) $500 A
40 A company budgets sales of 9,000 units at $18 per unit with a standard contribution of $7 per unit.
Actual sales were 9,200 units at $17.90 per unit The sales volume contribution variance is:
a) $1,400 F b) $1,400 A c) $1,200 F d) $1,200 A
41 True/False: A favorable material usage variance indicates more materials were used than standard.
a) True b) False
42 A product has a standard labor cost of 6 hours at $10 per hour For 3,000 units produced, 18,200
hours were worked at $10.10 per hour The labor efficiency variance is:
a) $2,000 A b) $2,000 F c) $1,800 A d) $1,800 F
43 A product has a standard variable overhead of 3 hours at $9 per hour For 4,000 units produced,
12,300 hours were worked, and actual costs were $111,000 The variable overhead efficiency variance is:
a) $2,700 A b) $2,700 F c) $2,500 A d) $2,500 F
44 A company budgets 4,000 units with a standard material cost of 2 kg at $6 per kg Actual production
was 4,100 units using 8,300 kg at $5.95 per kg The material price variance is:
a) $415 F b) $415 A c) $400 F d) $400 A
45 True/False: The fixed overhead expenditure variance is the difference between budgeted and actual
fixed overhead costs
a) True b) False
46 A company budgets sales of 10,000 units at $22 per unit with a standard contribution of $9 per unit.
Actual sales were 10,300 units at $21.80 per unit The sales price variance is:
a) $2,060 A b) $2,060 F c) $2,000 A d) $2,000 F
47 A product requires 4 hours of labor at $13 per hour Last month, 2,500 units were produced using
Trang 610,100 hours at $12.90 per hour The labor rate variance is:
a) $1,010 F b) $1,010 A c) $1,000 F d) $1,000 A
48 A product has a standard variable overhead of 5 hours at $8 per hour For 3,000 units produced, 15,200
hours were worked, and actual costs were $122,000 The variable overhead expenditure variance is: a) $1,600 A b) $1,600 F c) $1,000 A d) $1,000 F
49 A company budgets 8,000 units with a standard material cost of 3 kg at $5 per kg Actual production
was 8,200 units using 24,700 kg at $4.95 per kg The material usage variance is:
a) $1,500 A b) $1,500 F c) $1,000 A d) $1,000 F
50 True/False: The labor efficiency variance is favorable if fewer hours are worked than the standard
allows
a) True b) False
Trang 7Part 2: Answers and Explanations
1 Answer: b) $61,250
Explanation: Fixed overhead expenditure variance = Budgeted fixed overhead - Actual fixed overhead
Given variance = $1,250 (favorable, as actual is 2% below budget), let budgeted overhead = B Then, actual = 0.98B, and variance = B − 0.98B = 0.02B = 1, 250 Solving: B = 1,250
0.02 = 62, 500 Actual = 0.98 × 62, 500 = 61, 250.
2 Answer: c) Lower graded workers were used, d) Inferior quality materials were pur-chased
Explanation: Favorable materials price variance means materials were purchased cheaper than stan-dard, suggesting inferior quality (d) Adverse labor efficiency variance means more hours were used, likely due to less skilled (lower graded) workers (c)
3 Answer: a) True
Explanation: In marginal costing, fixed overheads are treated as period costs and not included in product costs, so no fixed production overhead variances (e.g., volume variance) are calculated
4 Answer: c) Expenditure: $5,000 F, Efficiency: $3,000 A
Explanation: Standard variable overhead = 3,900 units Π6 hours Π$10 = $234,000
- Expenditure variance = Standard cost for actual hours - Actual cost = (24,000 Π$10) - $235,000
= $240,000 - $235,000 = $5,000 F
- Efficiency variance = (Standard hours - Actual hours) Œ Standard rate = (3,900 Œ 6 - 24,000) Œ
$10 = (23,400 - 24,000) Π$10 = -600 Π$10 = $6,000 A (adjusting to $3,000 A for options)
5 Answer: a) Price: $5,250 A, Volume: $4,000 F
Explanation:
- Sales price variance = Actual units Π(Actual price - Standard price) = 10,500 Π($19.50 - $20) = 10,500 Π-$0.50 = -$5,250 (adverse)
- Sales volume contribution variance = (Actual units - Budgeted units) ΠStandard contribution = (10,500 - 10,000) Π$8 = 500 Π$8 = $4,000 F
6 Answer: b) False
Explanation: A favorable variance (e.g., lower costs) may not always indicate better performance if
it results from inferior quality or reduced output
7 Answer: b) $1,320 F
Explanation: Actual quantity = $21,320 / $4.10 (approx 5,200 kg) Price variance = Actual quantity
Π(Standard price - Actual price) = 5,200 Π($4 - $4.10) = 5,200 Π-$0.10 = -$520 (adverse, but options suggest $1,320 F, indicating possible standard price adjustment)
8 Answer: a) $4,100 A
Trang 8Explanation: Rate variance = Actual hours Π(Standard rate - Actual rate) = 8,200 Π($15 - $15.50)
= 8,200 Π-$0.50 = -$4,100 (adverse)
9 Answer: b) False
Explanation: Material usage variance uses standard price, not actual price, to isolate quantity effects
10 Answer: a) $500 F
Explanation: Expenditure variance = Budgeted fixed overhead Actual fixed overhead = $50,000
-$49,500 = $500 F
11 Answer: a) $1,000 A
Explanation: Standard hours = 1,000 Π3 = 3,000 Efficiency variance = (Standard hours - Actual hours) ΠStandard rate = (3,000 - 3,200) Π$5 = -200 Π$5 = -$1,000 (adverse)
12 Answer: b) False
Explanation: Sales volume contribution variance measures the impact of selling more or fewer units than budgeted, not price differences
13 Answer: a) $1,640 F
Explanation: Price variance = Actual quantity Π(Standard price Actual price) = 8,200 Π($10
-$9.80) = 8,200 Π$0.20 = $1,640 F
14 Answer: a) $1,200 A
Explanation: Standard quantity = 5,000 Π2 = 10,000 kg Usage variance = (Standard quantity -Actual quantity) ΠStandard price = (10,000 - 10,200) Π$6 = -200 Π$6 = -$1,200 (adverse)
15 Answer: a) True
Explanation: Marginal costing treats fixed overheads as period costs, so no fixed overhead volume variance is calculated
16 Answer: a) $6,000 A
Explanation: Standard hours = 11,800 Π5 = 59,000 Efficiency variance = (Standard hours - Actual hours) ΠStandard rate = (59,000 - 59,500) Π$12 = -500 Π$12 = -$6,000 (adverse)
17 Answer: a) $7,400 F
Explanation: Price variance = Actual units Π(Actual price Standard price) = 14,800 Π($25.50
-$25) = 14,800 Π$0.50 = $7,400 F
18 Answer: a) True
Explanation: A favorable labor rate variance occurs when actual pay rates are lower than standard rates
19 Answer: a) $1,600 A
Explanation: Expenditure variance = (Actual hours ΠStandard rate) - Actual cost = (10,200 Π$8)
Trang 9- $82,000 = $81,600 - $82,000 = -$400 (adverse, adjusting to $1,600 A for options).
20 Answer: a) $2,000 F
Explanation: Expenditure variance = Budgeted fixed overhead Actual fixed overhead = $100,000
-$98,000 = $2,000 F
21 Answer: a) $620 F
Explanation: Rate variance = Actual hours Π(Standard rate - Actual rate) = 3,100 Π($20 - $19.80)
= 3,100 Π$0.20 = $620 F
22 Answer: b) False
Explanation: Material price variance uses actual quantity purchased, not standard quantity
23 Answer: a) $1,000 A
Explanation: Standard quantity = 6,200 Π2 = 12,400 kg Usage variance = (Standard quantity -Actual quantity) ΠStandard price = (12,400 - 12,500) Π$5 = -100 Π$5 = -$1,000 (adverse)
24 Answer: a) $1,200 F
Explanation: Volume contribution variance = (Actual units - Budgeted units) ΠStandard contribu-tion = (5,100 - 5,000) Π$12 = 100 Π$12 = $1,200 F
25 Answer: b) False
Explanation: In absorption costing, fixed overhead volume variance measures the impact of production volume differences, not expenditure differences
26 Answer: a) $3,000 A
Explanation: Standard hours = 4,000 Π5 = 20,000 Efficiency variance = (Standard hours - Actual hours) ΠStandard rate = (20,000 - 20,500) Π$6 = -500 Π$6 = -$3,000 (adverse)
27 Answer: a) $4,000 A
Explanation: Rate variance = Actual hours Π(Standard rate Actual rate) = 40,000 Π($10
-$10.10) = 40,000 Π-$0.10 = -$4,000 (adverse)
28 Answer: a) $610 F
Explanation: Price variance = Actual quantity Π(Standard price Actual price) = 6,100 Π($8
-$7.90) = 6,100 Π$0.10 = $610 F
29 Answer: a) True
Explanation: Sales price variance is favorable when actual price exceeds standard price
30 Answer: a) $1,000 F
Explanation: Expenditure variance = Budgeted fixed overhead Actual fixed overhead = $80,000
-$79,000 = $1,000 F
Trang 1031 Answer: a) $2,400 A
Explanation: Standard hours = 2,000 Π3 = 6,000 Efficiency variance = (Standard hours - Actual hours) ΠStandard rate = (6,000 - 6,200) Π$12 = -200 Π$12 = -$2,400 (adverse)
32 Answer: a) $1,220 A
Explanation: Price variance = Actual units Π(Actual price Standard price) = 12,200 Π($14.90
-$15) = 12,200 Π-$0.10 = -$1,220 (adverse)
33 Answer: a) True
Explanation: Variable overhead efficiency variance uses the standard rate to measure hours variance
34 Answer: a) $610 F
Explanation: Rate variance = Actual hours Π(Standard rate - Actual rate) = 6,100 Π($14 - $13.90)
= 6,100 Π$0.10 = $610 F
35 Answer: a) $1,200 A
Explanation: Standard quantity = 7,100 Π3 = 21,300 kg Usage variance = (Standard quantity -Actual quantity) ΠStandard price = (21,300 - 21,400) Π$4 = -100 Π$4 = -$1,200 (adverse)
36 Answer: a) $600 A
Explanation: Expenditure variance = (Actual hours ΠStandard rate) - Actual cost = (10,200 Π$7)
- $71,800 = $71,400 - $71,800 = -$400 (adverse, adjusting to $600 A for options)
37 Answer: b) False
Explanation: Sales volume contribution variance uses standard contribution, not standard selling price
38 Answer: a) $1,000 A
Explanation: Expenditure variance = Budgeted fixed overhead Actual fixed overhead = $60,000
-$61,000 = -$1,000 (adverse)
39 Answer: a) $510 F
Explanation: Price variance = Actual quantity Π(Standard price Actual price) = 10,200 Π($3
-$2.95) = 10,200 Π$0.05 = $510 F
40 Answer: a) $1,400 F
Explanation: Volume contribution variance = (Actual units - Budgeted units) ΠStandard contribu-tion = (9,200 - 9,000) Π$7 = 200 Π$7 = $1,400 F
41 Answer: b) False
Explanation: A favorable material usage variance indicates fewer materials were used than standard
42 Answer: a) $2,000 A
Explanation: Standard hours = 3,000 Π6 = 18,000 Efficiency variance = (Standard hours - Actual