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Assume the following information appears in the standard cost card for a company that makes only one product: Standard Quantity Standard Price or Standard or Hours Rate Cost Direct materials 5 pounds $ 11.00 per pound $ 55.00 Direct labor 2 hours $ 17.20 per hour $ 34.40 Variable manufacturing overhead 2 hours $ 3.00 per hour $ 6.00 During the most recent period, the following additional information was available: . 20,000 pounds of material was purchased at a cost of $10.50 per pound. All of the material that was purchased was used to produce 3,900 units. 8,000 direct labor-hours were recorded at a total cost of $132,000. What is the direct labor rate variance? Multiple Choice $2,800 F $2,800 U Assume that the actual amount of one of a company's variable expenses was $45,198. The company's planned level of activity was 19,000 machir hours, and its actual level of activity was 18,225 machine-hours. The spending variance for this particular expense was $9,114 favorable. The cost per machine-hour for this expense is: Multiple Choice $1.96 $2.98 $2.92 $2.00 Which of the following statements is true? Multiple Choice The revenue variance will equal zero if the actual revenue earned equals the revenue expected for the actual level of activity. The revenue variance will be favorable if the revenue in the flexible budget exceeds the revenue in the planning budget. The revenue variance can be favorable or unfavorable depending on the formula used to create the flexible budget The revenue variance can be fovorable or unfavorable depending on the planned level of activity

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