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1  OMAR Company reported a flexible budget variance for direct materials costs of $5,000 Favorable for the current year

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1 

OMAR Company reported a flexible budget variance for direct materials costs of $5,000 Favorable for the current year. If the direct materials price variance was $1,000 Favorable, what was the direct materials quantity variance? Select one: a. $6,000 Unfavorable b. $6,000 Favorable c. $4,000 Favorable d. $4,000 Unfavorable

2 

ABC manufacturing firm prepares analysis for variable overhead variances. A $8,500 unfavorable flexible-budget variance indicates that ________. Select one: a. the flexible-budget amount exceeded actual variable manufacturing overhead by $8,500 b. the standard variable manufacturing overhead exceeded the flexible-budget amount by $8,500 c. the actual variable manufacturing overhead exceeded the flexible-budget amount by $8,500 d. the flexible-budget amount exceeded standard variable manufacturing overhead by $8,500