QUESTION 1Materials Quantity Variance = F, Materials Price Variance = F, Labor Efficiency Variance = F, Labor Rate Variance = F. Which of the following is the most likely scenario for these variances? The purchasing manager is doing a good job of finding quality materials at discounted prices. The materials hold up very well in production. The employees are well trained, properly supervised, and their skills properly match the jobs to which they are assigned, which allows for expectations to be consitently exceeded. The purchasing manager is finding low cost materials but their low quality may be contributing to excess waste during production. The employees are well trained, properly supervised, and their skills properly match the jobs to which they are assigned, which allows for expectations to be consistently exceeded. Unforeseen events caused a spike in the cost of raw materials, but fortunately the quality of the materials was not compromised. The employees are well trained, properly supervised, and their skills properly match the jobs to which they are assigned, which allows for expectations to be consistently exceeded. The purchasing manager is doing a good job of finding quality materials at discounted prices. The materials hold up well in production. No problems in the purchasing department. But just days ago, the owner’s nephew took over as production manager. He has no experience and fired some good workers to hire his friends at ridiculously high wages. The factory floor has turned into a zoo. Thank goodness the equipment and procedures in place are sound.2 pointsQUESTION 2Materials Quantity Variance = F or no variance, Materials Price Variance = U, Labor Efficiency Variance = F, Labor Rate Variance = F. Which of the following is the most likely scenario for these variances? The purchasing manager is doing a good job of finding quality materials at discounted prices. The materials hold up adequately in production. The employees are well trained, properly supervised, and their skills properly match the jobs to which they are assigned, which allows for expectations to be consistently exceeded. The purchasing manager is finding low cost materials but their low quality may be contributing to excess waste during production. The employees are well trained, properly supervised, and their skills properly match the jobs to which they are assigned, which allows for expectations to be consistently exceeded. Unforeseen events caused a spike in the cost of raw materials, but fortunately the quality of the materials was not compromised. The employees are well trained, properly supervised, and their skills properly match the jobs to which they are assigned, which allows for expectations to be consistently exceeded. The production manager and the employees in the factory have won numerous company awards for innovation, efficiency, and many cost saving ideas. The purchasing manager was recently fired for awarding contracts to friends at exorbitant costs in exchange inferior raw materials.2 pointsQUESTION 3Materials Quantity Variance = U, Materials Price Variance = F, Labor Efficiency Variance = F, Labor Rate Variance = F. Which of the following is the most likely scenario for these variances? The purchasing manager is doing a good job of finding quality materials at discounted prices. The materials hold up adequately in production. The employees are well trained, properly supervised, and their skills properly match the jobs to which they are assigned, which allows for expectations to be consistently exceeded. This company seems to be losing control of the manufacturing process. Materials purchased are overpriced and do not hold up well in production. Employee wages are above the standard, indicating either unplanned overtime was needed or higher skilled workers are doing jobs below their pay grade. Poor materials, poor supervision, and equipment breakdowns have required more direct labor hours than the standard budgeted. Unforeseen events caused a spike in the cost of raw materials, but fortunately the quality of the materials was not compromised. The employees are well trained, properly supervised, and their skills properly match the jobs to which they are assigned, which allows for expectations to be consistently exceeded. One of the machines in the factory was not working properly and destroyed thousands of dollars of raw materials before it could be repaired. Other than that one glitch, the purchasing department exceeds expectations and its competent; the manufacturing employees similarly are top notch and well managed, continually surpassing expectations.2 pointsQUESTION 4Materials Quantity Variance = U, Materials Price Variance = U, Labor Efficiency Variance = F, Labor Rate Variance = F. Which of the following is the most likely scenario for these variances? One of the machines in the factory was not working properly and destroyed thousands of dollars of raw materials before it could be repaired. Other than that one glitch, the purchasing department exceeds expectations and its competent; the manufacturing employees similarly are top notch and well managed, continually surpassing expectations. The production manager and the employees in the factory have won numerous company awards for innovation, efficiency, and many cost saving ideas. The purchasing manager was recently fired for awarding contracts to friends at exorbitant costs in exchange inferior raw materials. This company seems to be losing control of the manufacturing process. Materials purchased are overpriced and do not hold up well in production. Employee wages are above the standard, indicating either unplanned overtime was needed or higher skilled workers are doing jobs below their pay grade. Poor materials, poor supervision, and equipment breakdowns have required more direct labor hours than the standard budgeted. Unforeseen events caused a spike in the cost of raw materials, but fortunately the quality of the materials was not compromised. The employees are well trained, properly supervised, and their skills properly match the jobs to which they are assigned, which allows for expectations to be consistently exceeded.2 pointsQUESTION 5Materials Quantity Variance = F, Materials Price Variance = F, Labor Efficiency Variance = F, Labor Rate Variance = U. The philosophy of the company is that cheap labor makes the world go ’round. If an employee’s wages can be cut, they will be. The purchasing and production manager salaries are kept at 20% below comparable positions in the area, with frequent unexpected reductions for punitive measures. The idea is that savings on salaries and wages will translate to higher profits. In reality, it has resulted in low morale and a poor work ethic that has permeated the company. Employees cut corners whenever possible and are not committed to advancing company interests. This company is doing well and expanding into more advanced technological fields. They recently upgraded the production process by hiring highly qualified candidates and by offering advanced training for existing employees, which upgraded their pay. These moves were more costly than planned. The purchasing manager is doing a good job of finding quality materials at discounted prices. The materials hold up very well in production. The employees are well trained, properly supervised and will be ready to take on more difficult and sophisticated work when the expansion is complete. One of the machines in the factory was not working properly and destroyed thousands of dollars of raw materials before it could be repaired. Other than that one glitch, the purchasing department exceeds expectations and is competent; the manufacturing employees similarly are top notch and well managed, continually surpassing expectations. Unforeseen events caused a spike in the cost of raw materials, but fortunately the quality of the materials was not compromised. The employees are well trained, properly supervised, and their skills properly match the jobs to which they are assigned, which allows for expectations to be consistently exceeded.2 pointsQUESTION 6Materials Quantity Variance = F, Materials Price Variance = F, Labor Efficiency Variance = U, Labor Rate Variance = U. Which of the following is the most likely scenario for these variances? This company is doing well and expanding into more advanced technological fields. They recently upgraded the production process by hiring highly qualified candidates and by advanced training for existing employees, which upgraded their pay. These moves were more costly than planned. The purchasing manager is doing a good job of finding quality materials at discounted prices. The materials hold up exceedingly well in production. The employees are well trained, properly supervised and will be ready to take on more difficult and sophisticated work when the expansion is complete. The production manager and the employees in the factory have won numerous company awards for innovation, efficiency, and many cost saving ideas. The purchasing manager was recently fired for awarding contracts to friends at exorbitant costs in exchange for inferior raw materials. This company is putting all its resources into high tech production equipment that streamlines the manufacturing process to both produce a superior product and use raw materials that other firms routinely discard. Some amazing deals on materials picked up at the dump and recycling locations have been found in the last weeks. The new machines almost never create waste or break down, providing even better than expected results. As a result of the high capital expenditures on equipment, the company has not invested in its employees and morale is low. Employees call in sick at the last minute, upsetting production schedules. Retaining highly skilled workers is tough and bonuses were hastily distributed to keep some of the top performers from jumping ship. Unforeseen events caused a spike in the cost of raw materials, but fortunately the quality of the materials was not compromised. The employees are well trained, properly supervised, and their skills properly match the jobs to which they are assigned, which allows for expectations to be consistently exceeded.2 pointsQUESTION 7Materials Quantity Variance = U, Materials Price Variance = U, Labor Efficiency Variance = U, Labor Rate Variance = F. Which of the following is the most likely scenario for these variances? The philosophy of the company is that cheap labor makes the world go ’round. If an employee’s wages can be cut, they will be. The purchasing and production manager salaries are kept at 20% below comparable positions in the area, with frequent unexpected reductions for punitive measures. The idea is that savings on salaries and wages will translate to higher profits. In reality, it has resulted in low morale and a poor work ethic that has permeated the company. Employees cut corners whenever possible and are not committed to advancing company interests. Unforeseen events caused a spike in the cost of raw materials, but fortunately the quality of the materials was not compromised. The employees are well trained, properly supervised, and their skills properly match the jobs to which they are assigned, which allows for expectations to be consistently exceeded. The purchasing manager is finding low cost materials but their low quality may be contributing to excess waste during production. The employees are well trained, properly supervised, and their skills properly match the jobs to which they are assigned, which allows for expectations to be consistently exceeded. This company is doing well and expanding into more advanced technological fields.They recently upgraded the production process by hiring highly qualified candidates and by advanced training for existing employees. These moves were more costly than planned. The purchasing manager is doing a good job of finding quality materials at discounted prices. The materials hold up exceedingly well in production. The employees are well trained, properly supervised and will be ready to take on more difficult and sophisticated work when the expansion is complete.2 pointsQUESTION 8Materials Quantity Variance = U, Materials Price Variance = F, Labor Efficiency Variance = U, Labor Rate Variance = U. Which of the following is the most likely scenario for these variances? The purchasing manager is doing a good job of finding quality materials at discounted prices. The materials hold up very well in production. No problems in the purchasing department. But just days ago, the owner’s nephew took over as production manager. He has no experience and fired some good workers to hire his friends at ridiculously high wages. The factory floor has turned into a zoo. Thank goodness the equipment and procedures in place are sound. Buying cheap material that looked like a ‘steal’ seemed like a good idea at the time. But it has been nothing but headaches. There is a much higher degree of waste and product must be re-worked, requiring both extra hours from employees and even expensive overtime. The philosophy of the company is that cheap labor makes the world go ’round. If an employee’s wages can be cut, they will be. The purchasing and production manager salaries are kept at 20% below comparable positions in the area, with frequent unexpected reductions for punitive measures. The idea is that savings on salaries and wages will translate to higher profits. In reality, it has resulted in low morale and a poor work ethic that has permeated the company. Employees cut corners whenever possible and are not committed to advancing company interests. This company is doing well and expanding into more advanced technological fields. They recently upgraded the production process by hiring highly qualified candidates and by advanced training for existing employees. These moves were more costly than planned. The purchasing manager is doing a good job of finding quality materials at discounted prices. The materials hold up exceedingly well in production. The employees are well trained, properly supervised and will be ready to take on more difficult and sophisticated work when the expansion is complete.2 pointsQUESTION 9Materials Quantity Variance = F, Materials Price Variance = F, Labor Efficiency Variance = U, Labor Rate Variance = U. Which of the following is the most likely scenario for these variances? The purchasing manager is doing a good job of finding quality materials at a discounted price. The materials hold up very well in production. No problems in the purchasing department. But just days ago, the owner’s nephew took over as production manager. He has no experience and fired some good workers to hire his friends at ridiculously high wages. The factory floor has turned into a zoo. Thank goodness the equipment and procedures in place are sound. Unforeseen events caused a spike in the cost of raw materials, but fortunately the quality of the materials was not compromised. The employees are well trained, properly supervised, and their skills properly match the jobs to which they are assigned, which allows for expectations to be consistently exceeded. The philosophy of the company is that cheap labor makes the world go ’round. If an employee’s wages can be cut, they will be. The purchasing and production manager salaries are kept at 20% below comparable positions in the area, with frequent unexpected reductions for punitive measures. The idea is that savings on salaries and wages will translate to higher profits. In reality, it has resulted in low morale and a poor work ethic that has permeated the company. Employees cut corners whenever possible and are not committed to advancing company interests. Buying cheap material that looked like a ‘steal’ seemed like a good idea at the time. But it has been nothing but headaches. There is a much higher degree of waste and product must be re-worked, requiring both extra hours from employees and even expensive overtime.2 pointsQUESTION 10Materials Quantity Variance = U, Materials Price Variance = U, Labor Efficiency Variance = U, Labor Rate Variance = U. Which of the following is the most likely scenario for these variances? Buying cheap material that looked like a ‘steal’ seemed like a good idea at the time. But it has been nothing but headaches. There is a much higher degree of waste and product must be re-worked, requiring both extra hours from employees and even expensive overtime. The production manager and the employees in the factory have won numerous company awards for innovation, efficiency, and many cost saving ideas. The purchasing manager was recently fired for awarding contracts to friends at exorbitant costs in exchange inferior raw materials. One of the machines in the factory was not working properly and destroyed thousands of dollars of raw materials before it could be repaired. Other than that one glitch, the purchasing department exceeds expectations and its competent; the manufacturing employees similarly are top notch and well managed, continually surpassing expectations. This company seems to be losing control of the manufacturing process. Materials purchased are overpriced and do not hold up well in production. Employee wages are above the standard, indicating either unplanned overtime was needed or higher skilled workers are doing jobs below their pay grade. Poor materials, poor supervision, and equipment breakdowns have required more direct labor hours than the standard budgeted.
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