Answer the following questions using the information below: Tunney Corporation incurred fixed manufacturing costs of $7,200 during 2011. Other information for 2011 includes: The budgeted denominator level is 1,600 units. Units produced total 2,000 units. Units sold total 1,900 units. Beginning inventory was zero.The fixed manufacturing cost rate is based on the budgeted denominator level. Manufacturing variances are closed to cost of goods sold.Under absorption costing, fixed manufacturing costs expensed on the income statement (excluding adjustments for variances) total:

A step variable-cost function:

Sawyer Industries, Inc. (SII), developed standard costs for direct material and direct labor. In 2011, SII estimated the following standard costs for one of their major products, the 30-gallon heavy-duty plastic container.   Budgeted quantity Budgeted price Direct materials 0.20 pounds $25 per pound Direct labor 0.10 hours $15 per hour During July, SII produced and sold 5,000 containers using 1,100 pounds of direct materials at an average cost per pound of $24 and 525 direct manufacturing labor hours at an average wage of $14.75 per hour. July’s direct material efficiency variance is:   Hint: Please use Chp 7 Formula Sheet.

________ method(s) include(s) fixed manufacturing overhead costs as inventoriable costs.

What is the flexible-budget amount of variable overhead cost?

Answer the following questions using the information below:  Diana Industries, Inc. (DII), developed standard costs for direct material and direct labor. In 2010, DII estimated the following standard costs for one of their major products, the 10-gallon plastic container. Budgeted quantity Budgeted price Direct materials 0.10 pounds $30 per pound Direct labor 0.05 hours $15 per hour During June, DII produced and sold 10,000 containers using 980 pounds of direct materials at an average cost per pound of $32 and 500 direct manufacturing labor-hours at an average wage of $15.25 per hour. June’s direct material efficiency variance is:

Dartmouth Corporation manufactures two models of office chairs, a standard and a deluxe model. The following activity and cost information has been compiled: Number of Number of Number of Product Setups Components Direct Labor Hours Standard 19​ 9​ 250 Deluxe 31​ 18​ 210 Overhead costs $50,000​ $102,600 Number of setups and number of components are identified as activity-cost drivers for overhead. Assuming an activity-based costing system is used, what is the total amount of overhead costs assigned to the standard model?

A cost system determines the cost of a cost object by:

Answer the following questions using the information below:  The actual information pertains to the third quarter. As part of the budgeting process, the Duck Decoy Department of Wooden Figurines Incorporated had developed the following static budget for the third quarter. Duck Decoy is in the process of preparing the flexible budget and understanding the results. Actual Flexible Static Results Budget Budget Sales volume (in units)    13,000   12,000 Sales revenues $257,500 $ $250,000 Variable costs 154,000 $ ________ 175,000 Contribution margin 103,500 $ 75,000 Fixed costs 50,500 $ ________ 49,500 Operating profit $ 53,000 $  $ 25,500 The flexible budget will report ________ for variable costs.

Building in budgetary slack includes: